Champaign County IL Real Estate Market Report, August 2012

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Real Estate Agent with Beringer Realty

Champaign County IL Real Estate Market Report, August 2012

August 2012 Home Sales Information Compared to August 2011

The following real estate market information concerns only residential sales in greater Champaign County, IL and includes houses, condos, co-ops, and zerolots

August 2012 Closed Home Sales:

  • 312 units sold
  • $157,605 average sale price
  • 95.5% sale-to-list price ratio
  • 94 average days on the market

August 2011 Closed Home Sales:

  • 239 units sold
  • $149,541 average sale price
  • 95.1% sale-to-list price ratio
  • 93 average days on the market
Champaign IL Real Estate Market Report

What's going on in the Champaign County, IL real estate market?

There were some who at the beginning of 2012 suggested that the uptick in sales in Champaign-Urbana IL compared to a year ago was only due to the warm weather and that the improvement wouldn't last. I think it's safe to say at this point that those people were simply mistaken. Month after month we've seen increased sales and decreased inventory compared to a year ago resulting in a more stable market than we've seen in years. As I've pointed out before, Champaign-Urbana homes in the uppermost price ranges have finally been selling this year which is largely why we're seeing an increase in average sale price, too. We still have a few months to finish out 2012, but I suspect that this year will end up being referred to as the year the housing market in Champaign County began to markedly turn back around following the recession. No, we're not completely out of the woods... but things are looking up :-)

Champaign County IL Housing Market

What is an Absorption Rate?

Last Month's (July) Market Report

*Information is deemed reliable, but not guaranteed to be accurate. Statistics in this report were obtained through the Champaign County Association of Realtors®

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Shannon Lewis is a Realtor® and broker at Beringer Realty located in Urbana, Illinois. She and her partner, Debbie Hensleigh, help home buyers and sellers in Urbana, Champaign, Savoy, and many other surrounding communities.

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To contact Shannon with a question, for real estate assistance, or just to say "hey!":

call 217-552-8059, or email Shannon@HomeplaceAdvisors.com

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