Key Housing Market Statistics in the Metro-East Released

SHILOH, IL – Home prices in the Metro East are rising and a record seventy-seven percent of consumers think now is a good time to sell according to National Association of REALTORS® 

Home Sales 

The number of homes sold in most the Metro-East has increased in comparison to 2017 year-to-date. Home sales in St. Clair and Madison counties increased by 3.94 and 1.98 percent, while Jersey county increased by 2.53 percent. Monroe and Clinton Counties saw a rise of 7.79 and 8.04 percent year-to-date 2018. 

Compared to September last year, Randolph and Montgomery saw a large increase in the number of homes sold with 22.22 and 25 percent increases. Compared to last month, Jersey and Montgomery counties both saw an 11.76 percent increase. 

Home Prices 

Home prices rose from September last year in most of the Metro-East. St. Clair and Madison County home prices rose 2.54 and 4.50 percent compared to September 2017. Home prices in Clinton, Randolph, and Montgomery all had increases over 9 percent. Madison saw an increase of 13.79 percent, bringing the average home cost to $170,056. 

“Buying a home can seem stressful, with rising home prices and interest rates. However, using a REALTOR® can help take the stress out of the situation, they are trained to navigate you through the process. They also have access to amazing resources and can connect you with programs you may qualify for.” Said REALTOR® Association of Southwestern Illinois President Judy Ross. 

Days on Market 

The amount of days on market is still declining in the Metro-East. Homes in Macoupin, Randolph, and Montgomery Counties saw an increase of 24.21, 22.54, and 22.4 percent faster in September 2018 compared to September 2017. Madison and Jersey counties saw a respective decline with 12.41 and 14.9 percent. Clinton County homes saw a 2.67 percent decrease in days homes were on the market, with 74 days. 

The REALTOR® Association of Southwestern Illinois (RASI) is the voice for real estate in Southwestern Illinois. Our mission is to empower members to succeed 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.