Illinois Association of Realtors

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The Springfield area is mirroring national statistics on home sales.     

The latest monthly report from the Illinois Association of Realtors shows February home sales in Sangamon county totaled 153. That is an increase of 4.1% over the same time last year.  Those numbers fall in line with national statistics showing an increase of 4.7% in existing homes.

Illinois's numbers overall weren't as good. Sales were by 1.7% statewide.

In Sangamon County, the median home price was nearly $2,000 lower then a year ago. The median price in Sangamon County was $116,900.

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A new report predicts an uptick in home sales in Illinois in the coming year. Although a number of potential homebuyers are still sitting on sidelines. The forecast for housing prices in the coming year shows some increases, but not the kind of gains experienced in the last couple of years. 

Geoffrey Hewings, Director of the Regional Economics Applications Laboratory at the University of Illinois says while the housing market continues to recovery, he says millennials would rather rent than buy.

Voters in four Illinois communities, including Rochester, go to the polls Tuesday to decide whether to give their  town councils  more power. 

The villages want to become home rule communities, which gives them more authority to raise taxes and pass laws.  The Illinois Association of Realtors is against the change.   Association President Phil Chiles says if voters approve home rule, they could regret it later.

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Illinois Association of Realtors

Five years after the real estate market collapsed and the country fell into the Great Recession, Illinois’ housing market is showing signs of recovery.