CHICAGO—The state's housing market ended the year in positive territory, but a lack of inventory continues to dampen sales, according to data released by Illinois REALTORS®. The number of statewide sales declined a bit for December, but median prices continued what has been a 64-month long overall gain in prices.
Statewide home sales in December totaled 11,488 homes sold, down 2.7% from 11,803 in December 2016. Year-end 2017 home sales totaled 164,528, up 1.2% from 162,636 in 2016.
The statewide median price in December was $185,000, up 6.3% from December 2016 when the median price was $174,000. The year-end 2017 median price reached $195,000, up 6.0% from $184,000 in 2016.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
