CHAMPAIGN, Ill. (WCIA)– Realtors in Champaign County were busy last year. The Champaign County Association of Realtors says Champaign County home sales had the highest year end totals since 2006. By the end of last year, 3,098 units were sold. That’s up from 2,754 units sold in 2019. The President of Champaign County Association of Realtors, Liz McDonald, says she noticed reasons for the increase in sales. The average home sale price for 2020 for Champaign County area increased 6.26 percent to $189,871 from $178,680 in 2019.
“We saw interest rates averaging out at about 2.75 percent for a 30 year fixed mortgage and what this does for homebuyers is oftentimes they can get into a home with a monthly payment that’s equal or less as what they would pay as a renter,” said McDonald.
McDonald noticed another factor. “During the pandemic, a lot of people who worked in offices noticed they could be very productive at home,” said McDonald,”A lot of people took that time to get into a home that better fit their needs.”
The Champaign County Association of Realtors says as more people get vaccinated, start to evaluate homes options, and get more comfortable with being out, they’re expecting more homes to go on the market later in the year.