The number of home sales (houses, condos, zero-lots and coops) is up 61% comparing the Month of May 2012 to 2011. (The May 2012 numbers may change slightly as a few more sales trickle in) This follows a 34% increase for April and 16% increase in March. Great news for the Champaign real estate market.
The Average sale price in Champaign for May 2012 was $169,346. This is down slightly from the prior month and May of 2011 but the 3 month average sale price is basically unchanged ($170,726) from the same period last year.
The start of a come-back in the Champaign real estate market? Probably too early to tell but I’m optimistic. We aren’t seeing an overall increase in pricing but the increased demand is a great sign and most likely the first step towards steady improvement in our market.