SPRINGFIELD, Ill. (WCIA) — Prices for Illinois homes climbed in November while sales statewide trended downward amid what Illinois Realtors call in a press release. “tighter inventory levels”
Across the state, home sales in November totaled 11,026 — down just more than seven percent from the same month last year.
The median price, however, was $200,000 — a 5.3 percent increase from November 2018, when that figure hovered at $190,000.
“Homebuyers were confronted with the dual challenges of diminished inventory and slightly higher prices in many portions of the state,” said Ed Neaves, president of Illinois Realtors, in a release. “This is a continuation of trends we have seen throughout 2019 where home sellers reap modest rewards and homebuyers who move quickly and are willing to pay more are rewarded with a new home in time for the holidays.”
According to the Illinois Realtors data, home sales in the Bloomington MSA (McLean and Dewitt counties) totaled 191 units, a 6.7 percent increase while the median price was up 1.9 percent to $157,500; home sales in the Springfield MSA (Sangamon and Menard counties) totaled 234, a 9.3 percent increase while the median price increased 3.5 percent to $134,500.