Home Sales

Sales of existing homes in Illinois were down in December, but up overall in 2016.

The trade group Illinois Realtors reports that 162,380 houses and condos were sold in the state last year, up nearly four percent from 2015. 

But home sales for the month of December were down 2.8 percent from the previous December.

The statewide median home price was up 6.4 percent in 2016, at $184,000.

Economic analyst Geoffrey Hewings with the University of Illinois says a lack of inventory kept home sales from going even higher.

Statewide home sales in June surged 18 percent over previous year levels to 13,111 single-family homes and condominiums. This was the best June performance since 2010, according to the Illinois Association of Realtors.

The statewide median price in June was $155,000, up 3.3 percent from June 2011, the fourth straight month of median price increases in Illinois. The median price -- where half the homes sold for more and half sold for less – has risen $32,650 since January.