The Champaign County Association of
REALTORS® reports area home sales were down slightly in September while year-to-date
sales are still ahead of last year's pace. CCAR reports there were 218
residential home sales in September, down 3.96 percent from 227 reported in
September of 2013. CCAR year-to-date sales through September of 2014 totaled
2,091, reflecting an increase of 1.01 percent from 2,070 a year ago.
sales volume stood at $338,551,283.00 up from $328,232,675.00 from a year ago. Pending
home sales for the month of September were up 27.92 percent from the same period
a year ago. There were 197 residential pending sales reported, up from 154
pending sales reported in September 2013. Pending sales for the month of
September reflects a total number of active listings that went under contract
and are awaiting closing, usually 30 to 60 days in the future.
median home sale price (for all single-family homes and condominiums) in
September stood at $137,000 down 3.52 percent from $142,000 from September a
The year-to-date median sale price through
September was $139,000 up .36 percent from $138,500 during the same period in
2014. The median is a typical market price where half the homes sold for more,
half for less.
are feeling more confident in recent months due to the improving labor market.
While home sales are off just slightly by only 9 sales from a year ago, the
pending home sales volume is a strong indicator of the overall strength of the
housing market as we head into the final months of 2014. Last week, the 30-year
fixed-rate mortgage rates averaged 4.10 percent for the North Central Region as reported
by Freddie Mac, near the lowest average for the year," said Jeffrey Barkstall,
president of the Champaign County Association of REALTORS®. "Foot traffic continues to be strong
throughout the area. There is still a lot of pent-up demand in buyer activity,
though we are also seeing buyers spending more time in their home search
process before committing to their home purchase."
September, 50.45 percent of homes sold in the Champaign
area were priced at or below the median price of $137,000.
are seeing more inventory sold in lower price ranges and that is impacting our
median home sale price growth. But, at the same time that is helping to keep
homes affordable especially for those new first-time buyers. We anticipate a
pick-up in median price performance in the next few months."
average rate on a fixed rate mortgage for the North Central Region, according
to the Federal Home Loan Mortgage Corporation (Freddie Mac) was 4.16 percent in
September down from 4.50 percent in September 2013 and down from 4.11 in
city of Urbana
home sales activity increased 38.46 percent to 36 sales compared to 26 sales a
year ago. The west region which includes the city of Mahomet reported 43 sales in September up
30.30 percent from 33 sales from a year ago.
to the University of Illinois Regional Economics Applications Laboratory
of the Government and Public
Affairs, the statewide sales forecast for September, October and November 2014
suggests a downtrend on an annual basis. Annually, the three-month average
forecasts point to a change of between -9.4% and -7.0% for Illinois.
reveals that the decrease (on an annual basis) in the statewide sales can be
attributed to the decline in foreclosure sales; regular sales are almost at
last year's level," noted Geoffrey J. D. Hewings, Director of the Regional
Economics Applications Laboratory of the University of Illinois in the September
forecast for the Illinois Association of REALTORS®,.
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
homeownership 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.
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