BY THE NUMBERS
SPRINGFIELD, IL—Statewide home sales picked up in May and properties sold quickly even as median prices tracked higher than a year ago, according to Illinois REALTORS®. Statewide home sales in May 2017 totaled 17,077 homes sold, up 3.8% from 16,450 in May 2016. The statewide median price in May was $209,000, up 8.3% from May 2016, when the median price was $193,000. “Buyers are running headlong into a tight market, with nearly 10,000 fewer homes on the market statewide than there were in May 2016,” says Illinois REALTORS® president Doug Carpenter, managing broker of Coldwell Banker, The Real Estate Group in Orland Hills. ”Rising prices show sellers are being rewarded for listing in a market that in many areas has been marked by multiple offer situations.” The time it took to sell a home in May averaged 52 days, down from 59 days a year ago.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
