Home sales and prices throughout Ohio and Illinois continued to grow in September, according to the Realtor associations in both states.
Home sales activity across Ohio surged in September, keeping the market on pace to shatter the record-breaking year-end level of one year ago, reports the Ohio Association of Realtors.
Ohio home sales in September reached a record-breaking 13,194, a 5.5 percent increase from the 12,501 sales posted during the month last year, which previously served as the month’s best ever. The month’s average sales price of $157,851 is a 4 percent increase over the September 2004 average sales price of $151,809.
“In a word, our marketplace has been extraordinary,” said OAR President Jim West. “We are in the process of rewriting the record books in 2005. Without question, Ohio’s housing market continues to be a true bright spot in the economy.”
Ohio sales of new and existing homes (January through September) total 112,086, a 5.3 percent increase from the prior record of 106,470 sales posted during the period in 2004.
The state’s average sale price (January-September) of 157,246 marks a 3.6 percent increase from the $151,713 average price posted during the period a year ago.
In Illinois, the housing market has yet to cool off, as home sales rose 6.3 percent in September, according to the latest report by the Illinois Association of Realtors. Total home sales, which include single-family homes and condominiums, were 16,663 in September, up 6.3 percent from 15,671 sales in September 2004.
The Illinois median home price in September was $207,000, up 9.8 percent from $188,500 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 September) show an overall increase of 3 percent to 142,207 homes sold, compared with 138,077 sales in the first nine months of last year.
“Illinois Realtors saw no slowdown in the housing market this September,” said Stan Sieron, president of the Illinois Association of Realtors. “In fact, we saw the highest number of condo sales on record for the month of September, and single-family home sales logged the second-highest number of sales for the month…”
Statewide, single-family home sales were up 2.9 percent in September 2005 to 11,381 homes sold from 11,060 in September 2004. The median single-family home price in September was $207,000, up 12.5 percent from $184,000 a year earlier.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 6,985, up 2 percent from 6,849 home sales in September 2004. The median single-family home price for the Chicagoland PMSA was $270,000, up 10.7 percent from $244,000 in September 2004.
Statewide, 5,282 condominium sales were reported in September 2005, up 14.6 percent from 4,611 sales in the same month last year. The condo median price for September was $207,900, up 6.6 percent from $195,000 one year ago.
Condominium sales in the Chicagoland PMSA rose 14.8 percent in September 2005 to 5,093 units sold, while the condo median sales price increased 6.3 percent to $211,000. In September 2004 condo sales for the Chicagoland PMSA totaled 4,438; the median price was $198,500.
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