Showing posts from February, 2018

2017 Illinois Sales and What to Expect in 2018

When it comes to the housing market, numbers can be confusing, which is why your trusted REALTOR®, Nancy Hibler of Karges Realty, is here to help you understand what 2017 looked like, and what you can expect in 2018.
What We Saw in 2017 Illinois ended the year on a positive note, ending in positive marks in both sales and median prices. However, the problem we saw all too often was the market being affected by the lack of available inventory. December 2017 home sales showed a slight decrease from the year before, going from 11,803 in December 2016, to 11,488 in December 2017, a 2.7% drop. Even though the amount of sales slightly dropped, the statewide median home price ticked upward, going from $174,000 in December 2016, to  $185,000 in December 2017. This median is a typical market price where half the home sold for more and half sold for less. “The Illinois housing market posted a solid performance in 2017,” said Matt Difanis, ABR, CIPS, GRI, president of Illinois REALTORS® and broke…