Industry News

Illinois real estate sales post gains

Median home price climbs to $192,500 in third quarter

Despite a slight dip in sales of existing single-family homes in Illinois during the third quarter, year-to-date sales were stronger than the same period in 2003, according to the latest report from the Illinois Association of Realtors. Year-to-date home sales for the first nine months of 2004 rose 4.3 percent to a total of 97,176, compared to 93,160 in 2003. From third-quarter data, a strong July followed by a leveling-off trend in August and September resulted in sales of existing, single-family homes in Illinois nearly equal to last year's robust third-quarter sales. A total of 37,361 existing single-family homes were sold across the state in July through September, down 0.1 percent from 37,398 sales in the third quarter of 2003. "Last year's third-quarter report was the highest level of buying and selling on record in Illinois. That we're neck-and-neck with that kind of housing activity this year says a lot about the strength of the residential resale market," said John Vener...