The Champaign County Association of
REALTORS® reported double-digit home sales growth in June along with higher
median prices. CCAR home sales (including single-family and condominiums) in June
2015 totaled 402, up 13.55 percent over June 2014 when 354 homes were sold. Year-to-date
home sales through June totaled 1,354, reflecting a 4.39 percent increase from
1,297 sales during the same time in 2014.
median home sale price for the Champaign
County region in June was
$149,900, up 6.50 percent from $140,750 in June 2014. The year-to-date median
home sale price was $146,000, up 6.18 percent from $137,500 a year ago. The
median is a typical market price where half the homes sold for more and half
sold for less. The median home sale price increased for the ninth month in a
were 319 home sales pending in June, reflecting an increase of 12.32 percent from
284 pending sales reported in June a year ago. Pending sales for the month of
June reflect the total number of active listings that went under contract and
are awaiting closing, usually 30 to 60 days in the future.
home sales momentum was definitely stronger in June, reversing the trend from
the tempered sales pace we experienced this Spring. We predict another strong July reflective of this
month's pending sales volume and foot traffic indicators reported by REALTORS®.
The mid-year home sales are outpacing sales through this time last year,"
says Jeffrey Barkstall, president of the Champaign County Association of
REALTORS®. "There is a demand for more property on the market to keep up
with the numbers of interested buyers and especially those first time buyers who
represent a larger segment in the housing market."
to the National Association of REALTORS®, first-time buyers represented 32
percent of the market in May and are expected to continue to have a notable
presence in the home sale market this summer.
of July 6th, there were 1,385 single family residential listings on the market
in the CCAR region, up from 1,339 reported on June 16th.
sales volume for the month of June was $67,947,563, up 15.09 percent from
$59,035,670 from June of 2014. Year-to-date volume of sales was $219,700,167,
up 6.53 percent from $206,232,061 last year.
average commitment rate for the North Central region for a 30-year fixed-rate
mortgage according to the Federal Home Loan Mortgage Corporation (Freddie Mac)
was 3.97 percent for the month of June, down from 4.08 percent in June a year
ago and up from 3.8 percent in May 2014.
city of Urbana
region reported an 8.95 percent growth in home sales activity in June to 73
sales from 67 a year ago. The south region reported 41 sales compared to 24 in
June a year ago. The west region, including the town of Mahomet, had 63 sales compared to 44 in June
a year ago. The city of Champaign and Savoy region reported home
sale gains of 6.28 percent to 186 sales compared to 175 a year ago.
sluggish employment growth in Illinois,
housing sales and prices continue their positive trends," noted Geoffrey
J.D. Hewings, Director of the Regional Economics Applications Laboratory in his
June housing forecast for the Illinois Association of REALTORS®.
National Association of REALTORS® predicts there will be 5.8 million home sales
in 2015, up 7 percent from last year.
state government budget impasse in Springfield is putting a few buyers on edge,
especially those that rely on state government funding for a regular paycheck
and are unsure of the long-term effects of an extended, unresolved state
budget," said Barkstall, a broker with Century 21 Heartland Real Estate in
Champaign. "We are hopeful that some agreement is reached soon that puts
our state on track fiscally and does not cause unnecessary disruptions. For the
current time, we remain optimistic that home sales will stay strong through the
remaining summer months in the Champaign
Champaign County Association of REALTORS® is a voluntary trade organization
serving the Champaign
County and surrounding
areas and is the leading resource for REALTOR® members and an advocate for home
ownership and private property rights. Statistics were compiled from local
regions of the Champaign County Association of REALTORS® Multiple Listing
Service, which covers Champaign
County and surrounding
Service is our most important product | Serving all of Champaign County and surrounding areas
The Champaign County Association of REALTORS® is the "Voice for Real Estate" in the Champaign County area of Illinois, whose over 400 members are engaged in all facets of the real estate industry. CCAR was chartered in 1917.
Members Only Login
Copyright © 2021 by Champaign County Association of REALTORS®
Design, development & hosting by Accuraty Solutions