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Illinois home sales jump 15.9% in September

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Home sales in Illinois increased 15.9% over last year in September as the market continued to stabilize, the Illinois Association of Realtors said Friday. 

The state has reported year-over-year sales increases every month since July of 2011.  

Illinois home prices in September also edged up with the median price rising 2.2% to $139,000, compared to $136,000 last year. 

Home sales for the month also hit 10,689 units, up from 9,220 in September of 2011.

"If there is a headline from the first nine months of 2012, it is one of continued market stabilization," said Michael Oldenettel with RE/MAX Results Plus out of Illinois. "The prices, interest rates and consumers' feelings about the economy are fueling improvements in the housing market."

Chicago alone saw home sales rise 23.2% year-over-year in September with 1,845 sales on the books, up from 1,498 a year ago.

Still, the median price of a Chicago area home fell to $188,900 in September when compared to $190,000 last year.

Looking at the entire nine-county Chicago metro area, home sales rose 24% from last year with 7,484 home closings recorded in September.

kpanchuk@housingwire.com

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