Category Archives: Real Estate Market Reports

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U of I Flash Index

Category:Champaign Urbana Community,Real Estate Market Reports Tags : 
News Gazette economy indicator

The U of I Flash Index graphed this morning on the News Gazette. The econmoic figure has risen generalloy over the last two years.

The U of I Flash Index was published yesterday and it was up a bit from April. This stat is calculated  monthly by the UI Institute of Government and Public affairs and gives a measure of present and future economic health of the Champaign Urbana area. It is a weighted average of growth rates in personal income, corportate earnings, and consumer spending.

The figure rose a bit from April (106) to 106.2 in May. The figure has generally been on the climb since May of 2012 when it pegged 102. Any figure above 100 is considered to be a positive economic indicator. It is also a sign the the Champaign Urbana real estate market is healthy.


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Champaign IL Housing Market Report, Oct 2012

Category:Real Estate Market Reports

Home Sales Statistics: Oct 2012 versus Oct 2011

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

Home Sales in October 2012:

188 units sold
$141,968 average sale price
95.3% sale-to-list price ratio
76 average days on the market

Home Sales in October 2011:

157 units sold
$147,779 average sale price
93.3% sale-to-list price ratio
101 average days on the market

Champaign Urbana Housing Financing

What’s happening in the Champaign IL housing market?

As you can see above, there were more home sales in greater Champaign-Urbana for October 2012 than for October 2011, and there is little doubt that total home sales for the entire year will exceed last year’s figure. This is great news! There was also a significant decrease in the average days a home spent on the market. Two notable trends all year have been the low inventory and an increase in sales versus last year, which it seems has resulted in fewer average days on the market. Despite the fact that we’re entering the slower, winter months, the housing market in Champaign-Urbana is looking pretty stable.

Champaign-Urbana Housing Market

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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Champaign IL Housing Market Report, Sept 2012

Category:Real Estate Market Reports

Home Sales Statistics: Sept 2012 versus Sept 2011

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

Home Sales in September 2012:

195 units sold
$148,955 average sale price
94.8% sale-to-list price ratio
84 average days on the market

Home Sales in September 2011:

211 units sold
$152,779 average sale price
95.5% sale-to-list price ratio
95 average days on the market

Home Financing Champaign Urbana IL

What’s happening in the Champaign IL housing market?

The numbers for September 2012 look quite similar to the numbers from September 2011 in terms of the local real estate market. Total residential home sales in Champaign were down ever so slightly, but it still seems almost certain that we’ll end up with more sales total and a higher average sale price for the year overall. As you can see from the chart below, the absorption rate for Champaign County was virtually the same for September of 2012 and 2011, but we ended September 2012 with roughly 8.5% fewer homes on the market than there were the previous year. So far all year we’ve had a significantly smaller inventory of homes for sale, which is great news for home sellers and has aided in stabilizing our local Champaign housing market.

Champaign IL Housing Absorption Rates

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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Champaign IL Housing Market Report, August 2012

Category:Real Estate Market Reports

Home Sales Statistics: Augst 2012 versus August 2011

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

Home Sales in August 2012:

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

Home Sales in August 2011:

239 units sold
$149,541 average sale price
95.1% sale-to-list price ratio
93 average days on the market

Champaign IL Housing Finance

What’s happening in the Champaign IL housing market?

Almost every month so far for 2012 we’ve seen increased sales and decreased inventory compared to 2011 resulting in a more stable housing market than we’ve had in years. As mentioned in previous reports, Champaign-Urbana homes are finally selling in the uppermost price ranges this year, driving up the average sale price, though prices in general have remained stable. For those who have been hesitant to believe that the real estate market in Champaign is improving, it may be time to concede. While we may not be totally out of the woods, things are certainly looking up for our local housing market.

Champaign IL Absorption Rates Aug 2012

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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Champaign IL Housing Market Report, July 2012

Category:Real Estate Market Reports

Home Sales Statistics: July 2012 versus July 2011

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

Home Sales in July 2012:

292 units sold
$148,563 average sale price
95.9% sale-to-list price ratio
103 average days on the market

Home Sales in July 2011:

254 units sold
$149,187 average sale price
95.1% sale-to-list price ratio
93 average days on the market

Champaign IL Real Estate Market Report

What’s happening in the Champaign IL real estate market?

The Champaign-Urbana IL real estate market had yet another solid month of home sales. Total home sales for July 2012 increased by approximately 15% compared to July of 2011 and the sale-to-list price ratio was also up just slightly. The average sale price remained stable. Absorption rates have been much lower this year compared to last and we’ve been averaging around 1,800 homes on the market at any given time versus nearly 2,000 homes on the market throughout 2011.

Champaign IL Housing Absorption Rates

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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Champaign IL Housing Market Report, June 2012

Category:Real Estate Market Reports

Home Sales Statistics: June 2012 versus June 2011

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

Home Sales in June 2012:

352 units sold
$166,223 average sale price (please note: this does not mean prices are increasing. read below)
96.1% sale-to-list price ratio
91 average days on the market

Home Sales in June 2011:

306 units sold
$138,171 average sale price
95.9% sale-to-list price ratio
96 average days on the market

Champaign Home Financing

What’s happening in the Champaign IL real estate market?

It is proving to be a great summer for the housing market in Champaign-Urbana IL. Total number of homes sold in June is up compared to June of 2011, our inventory has remained relatively low, and homes in the uppermost price ranges have sold in greater numbers this year compared to the last few years. This last factor has brought the average sale price up significantly this month, and it’s important to note that this increase is NOT reflective of a substantial increase in home values, in general. With an absorption rate of approximately 5.2 months at the end of June, we have a stable market at this point in the year.

Champaign Housing Absorption Rate

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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Champaign IL Housing Market Report, May 2012

Category:Real Estate Market Reports

Home Sales Statistics: May 2012 versus May 2011

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

Home Sales in May 2012:

282 units sold
$152,331 average sale price
95.8% sale-to-list price ratio
108 average days on the market

Home Sales in May 2011:

251 units sold
$133,423 average sale price
95.6% sale-to-list price ratio
96 average days on the market

Champaign IL Real Estate Market

What’s happening in the Champaign IL real estate market?

A year ago the Champaign IL housing market was hurting, and there were several trends keeping it that way through most of 2011. There were too many homes on the market, in other words too much competition, but not enough buyers to reduce that inventory and stabilize the market. The absorption rate stayed at 7 months or higher (stable real estate markets have 5-6 months of inventory). And homes listed in the uppermost price ranges were, overall, just not selling.

However, so far for 2012, we’re seeing improvement. Champaign County’s inventory of homes on the market has been 10% lower than last year. We’ve had more sales overall and homes in the uppermost price ranges are finally selling, too. Our housing market is finally reaching a far more stable point than we’ve seen in years. Of course, the question is always, will it stay this way. No one has the answer. But May was a great month for the Champaign housing market and I think we’re all looking forward to what the coming, busy summer months will bring.

Champaign IL Real Estate Market

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®

Original Post on blog


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Champaign IL Housing Market Report, April 2012

Category:Real Estate Market Reports

Home Sales Statistics: April 2012 Versus April 2011

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

Home Sales in April 2012:

206 units sold
$154,570 average sale price
94.8% sale-to-list price ratio
108 average days on the market

Home Sales in April 2011:

189 units sold
$121,680 average sale price
95.0% sale-to-list price ratio
99 average days on the market

Real Estate Statistics Champaign IL

What’s happening in the Champaign, IL housing market?

As we move into the summer months, total home sale numbers steadily increase while the absorption rate falls, an expected seasonal change. I would caution against putting much weight in the high average sales price figure this month compared to a year ago as these numbers can fluctuate significantly month to month. The number of homes on the market at month-end stood at 1,797 compared to 2,062 a year ago, a significant difference, and our low inventory has been a trend in the Champaign market for nearly six months.

One thing worth mentioning is the current interest rates, which are again historically low. If you’re not planning on moving but you currently own your home, you may want to research the possibility of refinancing, speak with a local lender, and determine if it makes sense for you.

Champaign IL Housing Absorption Rates

Learn About Absorption Rates

*This information is deemed reliable, but not guaranteed. Statistics are from the Champaign County Association of Realtors®


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