Sales of single-family homes in Illinois held steady in June, posting the second-highest month on record, the Illinois Association of Realtors reported. Total home sales, which include single-family homes and condominiums, were just shy from last year’s record with 20,373 sales in June 2005, down 1.1 percent from 20,595 sales in June 2004.
Year-to-date, total home sales are up 2.3 percent, from 85,421 homes sold in the first six months of 2004 to 87,371 sales for the same period in 2005.
“Although Illinois June home sales eased slightly this year, they are still up on a year-to-date basis and with interest rates still low we anticipate another record year for 2005,” said John Veneris, president of the Illinois Association of Realtors.
Single-family home sales eased 3.2 percent in June 2005 to 14,253 homes sold from 14,721 in June 2004. The median single-family home price in June was $215,405, up 10.5 percent from $195,000 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less.
Statewide, a total of 6,120 condominium sales were reported in June 2005, up 4.2 percent from 5,874 sales in the same month last year. The condo median price for June was $206,000, up 6.7 percent from $193,000 one year ago.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 9,087, down 4.6 percent from 9,526 home sales in June 2004. The median single-family home price for the Chicagoland PMSA was $279,000, up 9.4 percent from $255,000 in June 2004.
Condominium sales in the Chicagoland PMSA rose 3.4 percent in June 2005 to 5,876 units sold, while the condo median sales price increased 7.7 percent to $211,000. In June 2004 condo sales for the Chicagoland PMSA totaled 5,684; the median price was $196,000.
The Illinois Association of Realtors is a voluntary trade association whose 55,000 members are engaged in all facets of the real estate industry.
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