News

This is the news that every Chicagoland Home Seller wants to hear:

Chicago home sales jump 32% in May

It is great news to deliver to home sellers who want to list their home. We know that the home tax credit drove buyers out into the market as well as the low price tags on short sales and foreclosures. It is no surprise that I can report this based on the perks we have seen in the market. This idea that home sales continue to drive forward after the tax credit is wonderful for everyone. We are seeing the market recover in the number of sales.

Median home sale prices remain steady from this time last year but the high end homes are the harder sale, as buyers know they have their choice of homes, and more money equals more buying power. Although we see home sale prices remain lower then 2 years ago, this is great news for both buyers and seller; Chicagoland Homes Are Selling!

According to the Illinois Association of Real Estate, Crain’s has reported the following information. As a Northern Illinois Realtor I feel it is important for you to see the numbers of homes that are selling and keep you informed on the Real Estate market. Working with a professional who knows the market is what can set your home aside from the rest when selling or get you the dream home that you have always wanted to buy.

(Crain’s) — More homes were sold in Chicago in May than a year earlier, marking the ninth month in a row of year-over-year gains.

The Illinois Assn. of Realtors reported Tuesday that last month’s sales of 2,057 single-family houses and condominiums represented a 32.1% increase from May 2009 sales. The median price also rose, up 2.2% to $230,000, from the same month last year.
The city’s May sales uptick was also seen in the greater Chicago area, where 33.6% more homes were sold. The median price for those homes, however, fell, down 4.8% to $190,500.

Illinois home sales were up 27.1%. The median price of the 11,638 homes sold statewide last month was $157,00, a slight increase from the $156,000 median of May 2009.

The National Assn. of Realtors said Midwest home sales remained strong in May as the homebuyers tax credit drove sales nearly 22% higher than in May 2009. The credit called for offers to be made by April 30.

The data released Tuesday show 130,000 sales in the 11-state Midwest region in May. The median home price increased more than 2%, to $150,700.

Midwest sales again rose more than national ones. Nonseasonally adjusted figures show May home sales nationwide increased about 18% over last year.

The Associated Press-Re/Max Monthly Housing Report, which also was released Tuesday, showed home sales increasing in all but one of 12 major Midwestern cities tracked. Fargo, N.D., led the region with a 66% sales jump. Detroit reported the only sales decrease, a 15% drop.

Are You Looking to Buy or Sell Your Northern Illinois Home?

If you are looking to buy or sell a home in Northern Illinois or you have any real estate related questions please feel free to contact me, Marina Jacobson at 847-510-5009 or email me at Marina@MarinaJacobsonHomes.com. Visit my website at www.MarinaJacobsonHomes.com for current real estate information. Click Here to Search The MLS Listings for FREE