Momentum in the housing market continued into September with Illinois home sales increasing 19.8 percent over previous-year levels and median prices rising 12.9 percent, Illinois Association of REALTORS® (IAR) reported today.
Statewide home sales (including single-family homes and condominiums) in September 2013 totaled 13,018 homes sold, up from 10,866 in September 2012. It was the strongest September in terms of sales since 2006, when 13,594 homes sold statewide. The statewide median price in September was $157,000, up 12.9 percent from September 2012 when the median price was $139,000.
“September homebuyers showed they were not going to be deterred by slight interest rate increases or the possibility of a federal government shutdown,” said Phil Chiles, ABR, CRS, GRI, SRES, president of the Illinois Association of REALTORS® and Broker-Associate with The Real Estate Group in Springfield. “The numbers reflect a strong end to the warm weather selling season, and provide good momentum into the final quarter of the year.”