May Home Sales Up 6.0 Percent in Illinois
Below are excerpts from IAR’s press release dated June 23, 2005 about economics ofselling a home in Chicago and the surrounding area.
“REALTORS® report a busy May as home sales heat up and condo sales fuel the market. According to the Illinois Association of REALTORS® latest report, total home sales—including single-family homes and condominiums—rose 6.0 percent to 17,656 sales in 2005 from 16,654 sales in May 2004. Year-to-date, total home sales are up 3.8 percent, from 64,297 homes sold in the first five months of 2004 to 66,750 sales for the same period in 2005.
…
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 5.83 percent, down 0.16 points from the 5.99 average rate during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in May it averaged 6.34 percent.
…
Single-family home sales were up 1.2 percent in May 2005 to 11,995 from 11,855 in May 2004. The median single-family home price in May was $198,000, up 9.4 percent from $181,000 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less. The single-family average home price for May 2005 was $246,808, a 6.4 percent increase from $231,861 in 2004.
…
Statewide, a total of 5,661 condominium sales were reported in May 2005, up 18 percent from 4,799 sales in the same month last year. The condo median price for May was $205,000, up 7.9 percent from $190,000 one year ago.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 7,481, up 0.4 percent from 7,453 home sales in May 2004. The median single-family home price for the Chicagoland PMSA was $260,000, up 8.8 percent from $239,000 in May 2004.
…
Condominium sales in the Chicagoland PMSA rose 17.7 percent in May 2005 to 5,445 units sold, while the condo median sales price increased 6.8 percent to $208,163. In May 2004 condo sales for the Chicagoland PMSA totaled 4,627; the median price was $195,000.”
“REALTORS® report a busy May as home sales heat up and condo sales fuel the market. According to the Illinois Association of REALTORS® latest report, total home sales—including single-family homes and condominiums—rose 6.0 percent to 17,656 sales in 2005 from 16,654 sales in May 2004. Year-to-date, total home sales are up 3.8 percent, from 64,297 homes sold in the first five months of 2004 to 66,750 sales for the same period in 2005.
…
The monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 5.83 percent, down 0.16 points from the 5.99 average rate during the previous month, according to the Federal Home Loan Mortgage Corporation. Last year in May it averaged 6.34 percent.
…
Single-family home sales were up 1.2 percent in May 2005 to 11,995 from 11,855 in May 2004. The median single-family home price in May was $198,000, up 9.4 percent from $181,000 a year earlier. The median is a typical market price where half the homes sold for more, half sold for less. The single-family average home price for May 2005 was $246,808, a 6.4 percent increase from $231,861 in 2004.
…
Statewide, a total of 5,661 condominium sales were reported in May 2005, up 18 percent from 4,799 sales in the same month last year. The condo median price for May was $205,000, up 7.9 percent from $190,000 one year ago.
In the Chicagoland Primary Metropolitan Statistical Area (PMSA), single-family home sales totaled 7,481, up 0.4 percent from 7,453 home sales in May 2004. The median single-family home price for the Chicagoland PMSA was $260,000, up 8.8 percent from $239,000 in May 2004.
…
Condominium sales in the Chicagoland PMSA rose 17.7 percent in May 2005 to 5,445 units sold, while the condo median sales price increased 6.8 percent to $208,163. In May 2004 condo sales for the Chicagoland PMSA totaled 4,627; the median price was $195,000.”
0 Comments:
Post a Comment
<< Home