Thursday, 06 June 2013 21:18

April Numbers Look Good for Illinois Real Estate

All across the nation, the real estate market is recovering in a big way. It’s definitely happening here in the Springfield area, as well as throughout the entire state of Illinois. Home sales are on the rise in Springfield, Chatham and Rochester, and this trend will likely continue as prices steadily increase and more buyers and sellers enter the market.

Just take a look at the month of April compared with a year ago. This article from the State Journal-Register lists some encouraging statistics from the Illinois Association of Realtors. The 12,621 homes sold in Illinois this April represented a 25.3 percent increase compared to last April. And the median price was $145,900, up 7.7 percent over April 2012. According to the association’s report, this was the best April since 2007.

Interest rates remain low, and with the economy improving and unemployment numbers dropping, many of the people who have been waiting to buy or sell are now ready to make a move. Are you?

If you’re thinking of selling:

Now is absolutely a fantastic time to put your home on the market. With more and more buyers looking, the supply is still not keeping up with the demand. That means homes are selling quickly and often at near the asking price. Gone are the days when good homes sat on the market for months and years.

If you’re thinking of buying:

Don’t worry, it’s true the inventory of homes is a bit limited right now, but that doesn’t mean you won’t be able to find a great home. There are more houses going on the market every day, and an experienced real estate agent can help you find one to meet your family’s needs. Now is a great time to take advantage of historically low interest rates and purchase a home of your own.

If you're contemplating whether this is the right time to buy or sell your home, contact us. Our experienced agents can discuss the options with you to help you figure out what makes sense for your specific situation.

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