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Wed July 9, 2014
Record Month For Home Sales In Area
The number of home sales in the Springfield area set a record last month. The average price per home was also an all time high.
The real estate market continues to recover, coming out of the recession. The Capital Area Association of Realtors says June numbers show a nearly 30 percent jump in homes being sold, compared to the same period a year ago. And it's a good time be a seller. The median home sale price was above $136,000. Both are all time marks.
It's possible the severe winter resulted in pent up demand.
But can it continue? Looking ahead, pending sales are down a bit from a year ago and total housing inventory remains below the same point last year.
Foreclosure sales as part of the overall market have declined for the fifth consecutive month.
The numbers reflect the market in Sangamon, Morgan, Menard, Christian and a part of Macoupin County.
On average, homes sold last month stayed on the market 99 days.