Chicago Area Median Home Prices Notch Up vs. State

According to the Illinois Association of Realtors, the Chicago area median home sale price in November was $247,000, up 0.8 percent from $245,000 in November 2006. Statewide, the median sale price was $193,000 for the month, down 3 percent from a year ago.

In Illinois overall the association report states that there were 9,021 total home sales of single-family homes and condos in November, down 20.4 percent from November 2006. Year-to-date, sales were down 16.3 percent to 131,497 homes sold January through November, compared to the same period a year ago. In the Chicago area, home sales totaled 5,772 in November 2007, down 23.9 percent from the same month last year. Year-to-date, sales were down 19.6 percent to 87,624.

For more useful infornmation visit http://www.heldtrealty.com/consulting.htm

Illinois Bucks the Foreclosure Trend

The number of U.S. homes now in foreclosure has more than doubled in the third quarter according to an Associated Press article published on November 2nd. Illinois foreclosure filings however, have declined in the through the same period. Illinois claimed 20,008 foreclosure filings in the third quarter on 19,128 properties, bucking the trend with a 4.2 percent decrease from the previous quarter and a slight 3.4 percent increase over the same period last year.

The lead story regarding foreclosures nationally paints a bleak picture but not necessarily for Illinois. For more information regarding foreclosure data and general real estate questions, please visit my consulting page at Heldt Realty.

Illinois Median Home Price Holds Steady

For those of you intersted in learning more about the Illinois real estate market, you may find the following reports of interest. The Illinois Association of Realtors recently released their September 2007 Illinois Housing Sstatistics. the report states that the Illinois median price held steady in the second quarter of 2007 while total home sales were off 16.1 percent from a year ago.

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Illinois Home Sales and Median Prices on the Rise

According to the Illinois Association of Realtors, Illinois housing statistics showed an increase of 36.2% in March compared to February. IAR's latest report indicates the numbers were 20.3% below the all-time high for March 2006 when a total of 15,024 homes were sold. Regarding the median price of a home in Illinois, IAR reports this figure at $198,000, up 0.1 percent from $197,900 a year ago.

Pleas contact me at Heldt Realty for area-specific data.