The number of homes sold in much of the Metro-East has increased compared to July 2017. Home sales in St. Clair increased by 5.52 percent, while Clinton and Monroe County saw a rise of 8.27 and 2.52 percent year to date 2018. REALTORS® in Jersey County reported a 13.56 percent increase in homes this July.
Compared to July last year, Clinton, Monroe, Randolph, and Montgomery counties all saw more homes being sold. Home sales in Clinton increased by 4.08 percent, Monroe increased by 13.04 percent, Randolph rose by 66.66 percent and Montgomery County reported a huge 70 percent increase.
“If you’ve been thinking about selling your home, now is a great time to do it. With home prices going up and the average days on market going down, sellers should be taking advantage of this market. Plus, with so many qualified REALTORS® trained to help you sell your home, there’s no guess work or extra worry on the seller.” Says Angie Zahn, President of the REALTOR® Association of Southwestern Illinois.
Upward trend for median prices continues with the statewide average rising 42.3 percent to $214,900 according to Illinois REALTORS®. Monroe County home prices rose 5.39 percent compared to July of 2017. Home prices in Jersey County increased by 29.85 percent, while Montgomery County reported a 52 percent increase for the second month in a row.
Days on market continued to decrease in the Metro-East. Homes in Clinton County sold 33.84 percent faster in July 2018 compared to July 2017. Montgomery County homes saw a 55.40 percent decrease in days homes were on the market. St. Clair and Madison Counties also reported decreases of 1.68 percent and 1.65 percent in days on market, respectively.
Even though the number of new homes being built in the Metro-east is down from 2017, there are still 148 new homes being built in St. Clair County, 33 new homes in Monroe County, and 108 new homes being built in Madison County. These numbers add to the amount of inventory for buyers to choose from.
The REALTOR® Association of Southwestern Illinois (RASI) is the voice for real estate in Southwestern Illinois. Our mission is to empower members to succeed today and into the future. For more information on RASI and real estate careers, please visit www.618realtor.com or contact the office at (618) 277-1980 or Membership@myRASI.com.