Industry News

Illinois, Ohio set home-sale records

Closed transactions jumped 5.3% in Illinois last year

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Home sales for 2003 in Illinois and Ohio shattered the previous year's record by an average 6.5 percent, according to surveys conducted by Realtor associations in both states. Rounding out a banner year for home sales with December's figures up 1.8 percent, 2003 fulfilled the predictions of industry economists by breaking last year's record for sales of existing, single-family homes in Illinois. According to the latest survey by the Illinois Association of Realtors, a total of 120,674 sales have been reported year-to-date for 2003, up 5.3 percent from 114,601 sales in 2002. Monthly sales in December were up 1.8 percent to 8,891 homes sold compared to 8,734 homes sold in the same period a year ago. The median, existing single-family home price increased 5.2 percent to $171,800 from $163,300 in December 2002. Looking at the full year, the statewide median home price increased 5.3 percent in 2003 to $120,600; in 2002, the median price was $114,600. The statewide average home price ...