The state of Illinois’ real estate market improved last month compared to a year ago as homes sales and median prices increased for buyers and sellers while inventories remained lower.
The latest numbers from the Illinois Association of Realtors reveals almost a 1 percent increase in home sales last month compared to the number of transactions recorded in August 2014. In August 2015, sales totaled 15,088 homes, up 0.9 percent from August 2014 when 14,957 homes were sold.
Last month’s statewide median price, the point at which exactly half of all homes sold for more and half sold for less, rose to $180,900, a 3.4 percent gain over August 2014’s statewide median price of $175,000.
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-Will Buss, BND business writer