SPRINGFIELD, Ill. - Illinois home sales soared 37.3% over previous-year levels in October and median prices increased 3.0%, according to the Illinois Association of Realtors. They report that statewide home sales (including single-family homes and condominiums) in October 2012 totaled 11,775 homes sold, up from 8,577 in October 2011. The last time this many houses sold in October in Illinois was in 2006 when 13,067 homes were sold.
The statewide median price in October was $133,750, up 3.0 percent from October 2011 when the median price was $129,900. "The rebound we have seen so far this year is impressive by any measure," said Michael D. Oldenettel, CRS, GRI, President of the Illinois Association of Realtors in a news release. "To have strong sales and median price gains as we enter the last quarter of the year is encouraging for buyers and sellers who are clearly feeling more confident about the housing market."
The numbers are almost as good in Rockford, where realtors have reported earlier this month that home sales in October hit a 3-year-high.