Housing markets in Ohio and Illinois shattered sales records in March, while home prices continued to experience mixed movement, according to Realtor associations in both states.
In Ohio, sales of new and existing homes last month reached 12,592, a 5.4 percent increase from the previous best-ever of 11,949 sales posted in March 2005, the Ohio Association of Realtors reported.
The month’s average sales price of $146,481 was down 1.4 percent from the $148,613 average posted during the same month last year.
Ohio’s year-to-date sales of new and existing homes totaled 28,989, a 5.4 percent increase from the 27,511 sales posted during the three-month period in 2005, which previously served as the market’s best-ever for the quarter.
In Illinois, total home sales in March outperformed all previous years and set a new record for the month, according to the Illinois Association of Realtors’ latest report. Total homes sales (which include single-family and condominiums) were up 4.9 percent to 14,907 homes sold, compared with the previous record-high 14,207 homes sold in March 2005.
The Illinois median home price in March was $199,000, up 4.7 percent from $190,000 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less.
Statewide, single-family home sales were up 5.3 percent in March to 10,219 homes sold compared with 9,707 single-family sales in March 2005. The median single-family home price in March was $189,500, up 3 percent from $183,986 a year earlier.
Year-to-date, Illinois home sales were up 2.1 percent to 34,030 compared with 33,318 homes sold January through March in 2005.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 5,877 in March 2006, up 0.1 percent from 5,873 home sales in the same month last year. The median single-family home price for the Chicagoland PMSA was $266,000, up 6.8 percent from $249,000 in March 2005.
Statewide, 4,688 condominium sales were reported in March, up 4.2 percent from 4,500 condo sales in March 2005. The condo median price for March was $212,000, up 5.6 percent from $200,700 one year ago.
Condominium sales in the Chicagoland PMSA increased 3.2 percent in March to 4,512 units sold, and the condo median sales price increased 5.2 percent to $215,734. March 2005 condo sales for the Chicagoland PMSA totaled 4,371; the median price was $205,000.
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