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Champaign IL Housing Market Report, March 2012

Home Sales Statistics: March 2012 Versus March 2011

These statistics include residential houses, condos, co-ops, and zerolots in greater Champaign County:

Home Sales in March 2012:

188 units sold
$144,751 average sale price
95.2% sale-to-list price ratio
102 average days on the market

Home Sales in March 2011:

171 units sold
$131,559 average sale price
95.0% sale-to-list price ratio
113 average days on the market

Champaign IL Real Estate Market Report 2012

What’s happening in the Champaign IL housing market?

While pending sales in Champaign County were up significantly for the first two months of this year compared to a year ago, this was not the case for March, though, we’re still a little ahead for the year overall. Interestingly, if you break down the pending sale numbers specifically for Champaign, Urbana and Savoy, two of the three cities still had more pending sales for March 2012 compared to March 2011, and the third had exactly the same number both years. In other words, sales activity is up compared to last year for the C-U area, while other surrounding towns in Champaign County aren’t necessarily seeing the same level of activity.

We ended the month with 1,795 homes on the market which is about 11% fewer homes on the market than there were one year ago. There’s no telling for how long our low inventory will remain a trend, but for right now it’s certainly favorable for sellers! The average sale price, as you can see above, is up for March; however, this number varies greatly throughout the year. Looking at recent months, sales prices appear to be stable for the Champaign-Urbana area.

Champaign IL Real estate Market Report

Learn About Absorption Rates

*Information is deemed reliable, but not guaranteed to be accurate. Statistics are from the Champaign County Association of Realtors®

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