How are housing prices looking in Illinois? Sellers continued to enjoy the advantage of decreased inventory and are much interested in Illinois homes. The reason is statewide median prices rose 8.4 percent in August, according to data from Illinois Realtors. We should consider the timing when working with the real estate and then decide what to do next!

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Housing Prices Statistics Of Illinois in the Year 2022

As the back-to-school season kicked off.Homes sold in an average of 24 days statewide in August 2021. The statewide median price in August 2021 was $257,000.The median is a general market price. In this, half the homes are sold for greater and half sold for lesser.

The home sales declined to 31,054, a 28.9 percent drop from August 2020 when 43,653 homes were on the market. Statewise home sales in August 2021 totaled 18,492. It was down 2.4 by percent from 18,938 in August 2020.

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Realtor Views on Homes Prices of Illinois

“Last month, the law of supply and demand once again manifested itself,” said Sue Miller. The designated managing broker of Coldwell Banker. “The few homes that were available got sold out quickly.”

According to the data, home sales in the Rockford MSA totaled 526 sales, a 1.5 percent increase while the median price rose 17.7 percent to $168,250. In Moline-Rock Island, MSA home sales totaled 312, an 18.2 percent increase. The median price increased 11.1 percent to $138,250.

“The market continues to exhibit positive growth in prices, but the number of sales has reduced,” said Dr. Daniel McMillen. “The Delta variant is causing concerns for consumers that have reduced their confidence in the economy. But so far, these concerns have been offset by the ongoing strength of demand for housing prices and favorable home-selling conditions.”

If all of this sounds exciting to you, you’re probably ready to pursue a career as a real estate agent! Our team at Illinois Brokers Academy is here to help you with our real estate courses for any real estate career you want.

Not just limited to Illinois but you can also invest in some of the best real estate markets in the United States. All you have to do is visit the official webpage and schedule a consultation at your convenience. They’re standing by to assist you to take the guesswork out of real estate investing.

Let us know which real estate markets in the United States you consider best for real estate investing!