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Illinois Annual Home Sales Increase, but Prices Continue to Slide
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You're Now Reading:
Illinois Annual Home Sales Increase, but Prices Continue to Slide
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Illinois Annual Home Sales Increase, but Prices Continue to Slide
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December 29, 2011 (Shirley Allen)

Sales of existing homes and condominiums in Illinois remained well above last year’s levels, but home prices continued to decline according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 7,954 existing homes and condos were sold in the Land of Lincoln in November. That was 6.8 percent lower than the 8,536 homes sold in October but 14.2 percent higher than the 6,966 homes sold in November 2010.

The median sales price for an existing home in Illinois declined 1.2 percent to $128,500 in November from $130,000 in October and was 11.3 percent lower than the median price of $145,000 in November of 2010.

Loretta Alonzo, president of the Illinois Association of REALTORS®, stated, “Signs are emerging that a recovery in the housing market is underway including the steady uptick in home sales activity, which is expected to continue into the new year. As we move through the distressed properties, predominant in the Chicagoland market, and begin to see more positive reports on the jobs front we will be looking for some stabilization in home prices to coincide with the rising home sales.”

Fifty-two of the 100 counties that reported data posted higher home sales than a year ago, up from 47 last month, while 41 of the counties posted an increase in their annual median sales price, down from 46 last month.

Year-over-year home prices were up 20.0 percent in Henry, 12.4 percent in Kankakee, 2.5 percent in Kendall, 19.2 percent in Knox, 6.5 percent in LaSalle, 5.3 percent in Menard, 30.8 percent in Monroe, 3.0 percent in Rock Island, 2.9 percent in Tazewell Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 5,453 in November, down 5.6 percent from 5,778 homes sold in October but up 20.7 percent from 4,518 homes sold in November of 2010.

The median sales price for a home in the Chicago MSA was $150,000 in November, up 0.1 percent from a median price of $149,900 in October but down 14.3 percent compared to November of last year when the median sales price was $175,000.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

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December 29, 2011 (Shirley Allen)

Sales of existing homes and condominiums in Illinois remained well above last year’s levels, but home prices continued to decline according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 7,954 existing homes and condos were sold in the Land of Lincoln in November. That was 6.8 percent lower than the 8,536 homes sold in October but 14.2 percent higher than the 6,966 homes sold in November 2010.

The median sales price for an existing home in Illinois declined 1.2 percent to $128,500 in November from $130,000 in October and was 11.3 percent lower than the median price of $145,000 in November of 2010.

Loretta Alonzo, president of the Illinois Association of REALTORS®, stated, “Signs are emerging that a recovery in the housing market is underway including the steady uptick in home sales activity, which is expected to continue into the new year. As we move through the distressed properties, predominant in the Chicagoland market, and begin to see more positive reports on the jobs front we will be looking for some stabilization in home prices to coincide with the rising home sales.”

Fifty-two of the 100 counties that reported data posted higher home sales than a year ago, up from 47 last month, while 41 of the counties posted an increase in their annual median sales price, down from 46 last month.

Year-over-year home prices were up 20.0 percent in Henry, 12.4 percent in Kankakee, 2.5 percent in Kendall, 19.2 percent in Knox, 6.5 percent in LaSalle, 5.3 percent in Menard, 30.8 percent in Monroe, 3.0 percent in Rock Island, 2.9 percent in Tazewell Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 5,453 in November, down 5.6 percent from 5,778 homes sold in October but up 20.7 percent from 4,518 homes sold in November of 2010.

The median sales price for a home in the Chicago MSA was $150,000 in November, up 0.1 percent from a median price of $149,900 in October but down 14.3 percent compared to November of last year when the median sales price was $175,000.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

December 29, 2011 (Shirley Allen)

Sales of existing homes and condominiums in Illinois remained well above last year’s levels, but home prices continued to decline according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 7,954 existing homes and condos were sold in the Land of Lincoln in November. That was 6.8 percent lower than the 8,536 homes sold in October but 14.2 percent higher than the 6,966 homes sold in November 2010.

The median sales price for an existing home in Illinois declined 1.2 percent to $128,500 in November from $130,000 in October and was 11.3 percent lower than the median price of $145,000 in November of 2010.

Loretta Alonzo, president of the Illinois Association of REALTORS®, stated, “Signs are emerging that a recovery in the housing market is underway including the steady uptick in home sales activity, which is expected to continue into the new year. As we move through the distressed properties, predominant in the Chicagoland market, and begin to see more positive reports on the jobs front we will be looking for some stabilization in home prices to coincide with the rising home sales.”

Fifty-two of the 100 counties that reported data posted higher home sales than a year ago, up from 47 last month, while 41 of the counties posted an increase in their annual median sales price, down from 46 last month.

Year-over-year home prices were up 20.0 percent in Henry, 12.4 percent in Kankakee, 2.5 percent in Kendall, 19.2 percent in Knox, 6.5 percent in LaSalle, 5.3 percent in Menard, 30.8 percent in Monroe, 3.0 percent in Rock Island, 2.9 percent in Tazewell Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 5,453 in November, down 5.6 percent from 5,778 homes sold in October but up 20.7 percent from 4,518 homes sold in November of 2010.

The median sales price for a home in the Chicago MSA was $150,000 in November, up 0.1 percent from a median price of $149,900 in October but down 14.3 percent compared to November of last year when the median sales price was $175,000.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.