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Illinois 4Q Home Sales Improve from Last year, but Prices Slump
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Illinois 4Q Home Sales Improve from Last year, but Prices Slump
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Illinois 4Q Home Sales Improve from Last year, but Prices Slump

February 14, 2012 (Shirley Allen)

Sales of existing homes and condominiums in Illinois followed seasonal trends and declined from the third quarter of 2011 to the fourth quarter but were still higher than the same quarter a year ago according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 25,394 existing homes and condos were sold in the Land of Lincoln in the fourth quarter. That was 14.3 percent lower than the 29,644 homes sold in the third quarter but 14.8 percent higher than the 22,114 homes sold in the fourth quarter of 2010.

The median sales price for an existing home in Illinois declined 12.0 percent to $128,000 in the fourth quarter from $145,500 in the third quarter and was 10.4 percent lower than the median price of $143,500 in the fourth quarter of 2010.

Total home sales in 2011 were down just slightly from 2010, falling from 103,899 homes sold in 2010 to 103,785 in 2011 with the statewide median price dropping from $151,500 in 2010 to $137,500 in 2011.

Loretta Alonzo, President of the Illinois Association of REALTORS®, stated, “For homebuyers who are feeling confident enough to re-enter the housing market, this data shows there is great opportunity for them. Growing optimism about the economy and low interest rates generated a lot of interest in real estate in the final part of the year.”

Sixty-one of the 98 counties that reported data posted higher home sales than a year ago, while 45 of the counties posted an increase in their annual median sales price.

Year-over-year home prices were up 32.6 percent in Coles, 39.3 percent in Menard, 8.6 percent in Kankakee, 12.5 percent in Whiteside, 1.4 percent in Madison and 2.1 percent in Monroe Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 17,321 in the fourth quarter, down 12.7 percent from 19,847 homes sold in the third quarter but up 20.4 percent from the 14,392 homes sold in the fourth quarter of 2010.

The median sales price for a home in the Chicago MSA was $148,300, down 15.0 percent from a median price of $174,500 in the third quarter and down 14.0 percent compared to the fourth quarter of last year when the median sales price was $172,500.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 14, 2012 (Shirley Allen)

Sales of existing homes and condominiums in Illinois followed seasonal trends and declined from the third quarter of 2011 to the fourth quarter but were still higher than the same quarter a year ago according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 25,394 existing homes and condos were sold in the Land of Lincoln in the fourth quarter. That was 14.3 percent lower than the 29,644 homes sold in the third quarter but 14.8 percent higher than the 22,114 homes sold in the fourth quarter of 2010.

The median sales price for an existing home in Illinois declined 12.0 percent to $128,000 in the fourth quarter from $145,500 in the third quarter and was 10.4 percent lower than the median price of $143,500 in the fourth quarter of 2010.

Total home sales in 2011 were down just slightly from 2010, falling from 103,899 homes sold in 2010 to 103,785 in 2011 with the statewide median price dropping from $151,500 in 2010 to $137,500 in 2011.

Loretta Alonzo, President of the Illinois Association of REALTORS®, stated, “For homebuyers who are feeling confident enough to re-enter the housing market, this data shows there is great opportunity for them. Growing optimism about the economy and low interest rates generated a lot of interest in real estate in the final part of the year.”

Sixty-one of the 98 counties that reported data posted higher home sales than a year ago, while 45 of the counties posted an increase in their annual median sales price.

Year-over-year home prices were up 32.6 percent in Coles, 39.3 percent in Menard, 8.6 percent in Kankakee, 12.5 percent in Whiteside, 1.4 percent in Madison and 2.1 percent in Monroe Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 17,321 in the fourth quarter, down 12.7 percent from 19,847 homes sold in the third quarter but up 20.4 percent from the 14,392 homes sold in the fourth quarter of 2010.

The median sales price for a home in the Chicago MSA was $148,300, down 15.0 percent from a median price of $174,500 in the third quarter and down 14.0 percent compared to the fourth quarter of last year when the median sales price was $172,500.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
HOME SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

February 14, 2012 (Shirley Allen)

Sales of existing homes and condominiums in Illinois followed seasonal trends and declined from the third quarter of 2011 to the fourth quarter but were still higher than the same quarter a year ago according to the latest data from the Illinois Association of REALTORS® (IAR).

An estimated total of 25,394 existing homes and condos were sold in the Land of Lincoln in the fourth quarter. That was 14.3 percent lower than the 29,644 homes sold in the third quarter but 14.8 percent higher than the 22,114 homes sold in the fourth quarter of 2010.

The median sales price for an existing home in Illinois declined 12.0 percent to $128,000 in the fourth quarter from $145,500 in the third quarter and was 10.4 percent lower than the median price of $143,500 in the fourth quarter of 2010.

Total home sales in 2011 were down just slightly from 2010, falling from 103,899 homes sold in 2010 to 103,785 in 2011 with the statewide median price dropping from $151,500 in 2010 to $137,500 in 2011.

Loretta Alonzo, President of the Illinois Association of REALTORS®, stated, “For homebuyers who are feeling confident enough to re-enter the housing market, this data shows there is great opportunity for them. Growing optimism about the economy and low interest rates generated a lot of interest in real estate in the final part of the year.”

Sixty-one of the 98 counties that reported data posted higher home sales than a year ago, while 45 of the counties posted an increase in their annual median sales price.

Year-over-year home prices were up 32.6 percent in Coles, 39.3 percent in Menard, 8.6 percent in Kankakee, 12.5 percent in Whiteside, 1.4 percent in Madison and 2.1 percent in Monroe Counties.

In the nine-county Chicago Metropolitan Statistical Area (MSA), sales of existing homes and condos totaled 17,321 in the fourth quarter, down 12.7 percent from 19,847 homes sold in the third quarter but up 20.4 percent from the 14,392 homes sold in the fourth quarter of 2010.

The median sales price for a home in the Chicago MSA was $148,300, down 15.0 percent from a median price of $174,500 in the third quarter and down 14.0 percent compared to the fourth quarter of last year when the median sales price was $172,500.

Tags: existing homes, condos, sales, median home prices, Illinois

Source:
Illinois Association of REALTORS®

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?
DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?
WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
CALCULATE YOUR MORTGAGE PAYMENT
BENEFITS OF REFINANCING YOUR MORTGAGE
ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN
THINKING OF BUYING
A NEW CAR?

WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
INSIDER CAR BUYING TIPS
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
BUYING VS LEASING
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
DEALER OR BANK FINANCING
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
BUYING ON THE INTERNET
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
AUTO LOAN CALCULATOR
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
HOME BUYING TIPS
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
SEARCH FOR A HOME
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

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