The Illinois Association of REALTORS® released the October housing report this morning. #IARMarketStats
Statewide, October home sales inched 0.2 percent higher than a year ago and the median price increased 6.0 percent year-over-year. Here are a few more takeaways from today’s data:
- The statewide median price ($159,000 in October) has experienced annual gains for the last 26 consecutive months.
- Homes on the market are moving fairly quickly. Statewide, homes averaged 74 days on market before being sold in October. The time was even shorter for the Chicago PMSA (61 days) and in the city of Chicago (51 days).
- The majority of Illinois counties saw median prices and sales increase in October. Sixty counties had price gains while 52 counties had year-over-year sales increases during the same time.