May
02

Houses Are Selling in Illinois: March Sales Up 35%

May 02, 2009

Would you like to hear some good news for a change on the residential real estate market?  According to the Illinois Assocation of Realtors, March 2009 sales of existing homes has increased 35.5% from February.  Not only are houses selling, the median price statewide has bumped up 21%  to $150,000 as well.  Finally, home owners and sellers have something to cheer about after a tough last 18 months in the market.

It’s likely too early to tell if this data is a long term trend but after the last year or so of falling values, news such as this points to an encouraging future.  Many positive signs are there in Chicago Real Estate News market such as pent up demand, near record low interest rates and federal tax credit incentives for first time home buyers.  Some experts point to stabilization of home values as an indicator of  more good news to come.

“Interest rates remain near record lows while recent reports on housing affordability, the pending home sales index and home builder confidence are on the rise,” said Pat Callan, president of the Illinois Association of Realtors.  “And while still lower than a year ago, both statewide home sales and the state’s median home price were up from February 2009 and that is a step in the right direction. Stabilized prices will lead the way to a housing market recovery.”

Illinois Association of Realtors Article -

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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