April home sales in Illinois shoot up 15.7%
Illinois home sales in April increased 15.7% from year-ago levels while median prices held steady for the second month in a row, the Illinois Association of Realtors said Tuesday.
Illinois home sales in April hit 9,961 completed closings, up 15.7% from 8,606 a year earlier, making it the state's best sales performance in two years.
The median price for a home statewide hit $135,000, which is in line with year ago levels. However, compared to March, the median price is up by $5,000 from $130,000 a month earlier.
"The fact that median prices remain steady and sales continue to outpace previous-year levels is a positive sign for the housing market," said Loretta Alonzo, president of the Illinois Association of Realtors. "Despite the month-to-month increases in median prices, it’s clear that there still are very attractive deals out there."
The average monthly mortgage rate for a 30-year, FRM in the North Central region of Illinois hit 3.89% in April, down from 3.99% the previous month and 4.87% last April.