Local home sales up 32% in February
(Crain's) — Chicago-area home sales in February continued to rise compared with last year, but median prices still fell.
| CHICAGO-AREA SALES | |||
| Local sales of single-family homes and condo rose in February for the eighth month. | |||
| Month | 2010 | 2009 | Change |
|---|---|---|---|
| January | 3,922 | 3,035 | 29.2% |
| February | 4,134 | 3,133 | 32% |
| Month | 2009 | 2008 | Change |
| January | 3,035 | 3,927 | -22.7% |
| February | 3,133 | 4,326 | -27.6% |
| March | 4,260 | 5,759 | -26.0% |
| April | 4,747 | 6,094 | -22.1% |
| May | 5,634 | 6,927 | -18.7% |
| June | 7,140 | 7,806 | -8.5% |
| July | 7,427 | 7,408 | 0.3% |
| August | 7,009 | 6,917 | 1.3% |
| September | 6,862 | 6,477 | 5.9% |
| October | 7,286 | 5,467 | 33.3% |
| November | 6,826 | 3,978 | 71.6% |
| December | 5,752 | 4,320 | 33.1% |
| Full year | 69,290 | 69,406 | -0.2% |
| Source: Illinois Assn. of Realtors | |||
In the nine-county Chicago region, 4,134 single-family homes and condominiums were sold last month, a 32% increase over February 2009, according to a release Monday from the Illinois Assn. of Realtors.
In the city, sales rose 41.5% last month, to 1,225 compared with 866 in February 2009, the Realtors said.
"We are encouraged by more signs of improvement in the Illinois housing market spurred by the tremendous buyer market conditions with sales increases for six months in a row statewide and eight months running in the Chicagoland nine-county region," Mike Onorato, president of the association and broker-owner of Onorato Real Estate in Coal City, said in the release.
The median price in the Chicago area — at which half the homes sell for more and half for less — fell to $165,000 in February, a 10.3% decrease from last year, according to the release, and down from $175,000 last month.
In Chicago, the February median price of $176,500 was off 19.3% compared with February 2009 and down from $195,000 last month.
Statewide, sales rose 15.7% last month to 5,483 homes. The statewide median price fell 3.6% compared with February 2009.
The Illinois Assn. of Realtors' sales figures include new and existing homes. The nine-county Chicago Primary Metropolitan Statistical Area consists of Cook, DeKalb, DuPage, Grundy, Kane, Kendall, Lake, McHenry and Will.
