Home sales are down but prices are up in the latest stats from the Capital Area Realtors. Home sales in that association’s district, which includes Morgan County, fell 10 percent last month compared to June of last year.
Association president Kristie DeBrun talks about reasons sales are down…
“Fairly low inventory compared to what we had last year. That means we will continue to see multiple offers in certain price ranges since the inventory is low,” she says. “We don’t really have anything that we contribute that to except that we can say sales are still very steady and slightly increasing, and days on market is great.”
The median sale price of a home was $132,000, an increase of 1.6 percent from a year ago. Springfield and surrounding areas continue to be plagued by a shortage of homes in the 150 to 200 thousand dollar range.
DeBrun talks about the easiest homes to sell right now…
“Anything that’s in a higher price range, the $500,000-plus price range, that inventory is staying on the market a lot longer than the average price range, the $150,000-to-$250,000 range,” explains DeBrun.
“So, that’s not too uncommon for the higher-end houses to stay on the market a little bit longer. But, that average range between the $150,000 and $250,000 inventory is low, and it is definitely a seller’s market right now.”
The Capital Area Realtors group also covers Sangamon, Christian, and Menard counties, and a section of northern Macoupin County.
Story from wire services.