Home sales activity throughout Ohio heated up in July to record levels, while sales in Illinois slowed from a year ago, according to the Realtor associations in those states.
Ohio sales in July reached a record-breaking 13,996, up 1.7 percent from the 13,763 sales posted during the month last year, which previously served as the market’s best ever, reports the Ohio Association of Realtors.
The month’s average sales price of $165,283 is a 5 percent increase over the July 2004 average sales price of $157,391, OAR reported.
Statewide sales of new and existing homes (January through July) totaled 83,250, a 4.5 percent increase from the prior record of 79,651 sales posted during the period in 2004.
The state’s average sale price (January-July) of $155,749 marks a 3.3 percent increase from the $150,787 average posted during the period a year ago.
In Illinois, July home sales slowed from last year’s record pace, according to the Illinois Association of Realtors, while year-to-date total home sales are ahead of 2004 figures.
There were 18,045 total home sales last month, which include single-family homes and condominiums, down 2.8 percent from 18,574 sales in July 2004.
The median Illinois home price in July was $209,100, up 10.1 percent from $189,900 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less.
Total home sales year-to-date (January through July) show an overall increase of 1.3 percent to 105,377 homes sold, compared with 103,975 sales in the first seven months of last year.
Single-family home sales in Illinois slipped 5.3 percent in July 2005 to 12,535 homes sold from 13,239 in July 2004. The median single-family home price in July was $210,000, up 11.7 percent from $188,000 a year earlier.
Statewide, 5,510 condominium sales were reported in July 2005, up 3.3 percent from 5,335 sales in the same month last year. The condo median price for July was $207,000, up 8.5 percent from $190,750 one year ago.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 7,776, down 5.6 percent from 8,237 home sales in July 2004. The median single-family home price for the Chicagoland PMSA was $273,500, up 8.5 percent from $252,000 in July 2004.
Condominium sales in the Chicagoland PMSA rose 3.1 percent in July 2005 to 5,286 units sold, while the condo median sales price increased 8.7 percent to $212,000. In July 2004 condo sales for the Chicagoland PMSA totaled 5,129; the median price was $195,000.
***
What’s your opinion? Send your Letter to the Editor to opinion@inman.com.
