In Champaign County, sales of homes dipped in May this year compared with the same time last year. In May this year, 271 homes were sold, a decline of 3.9% from 282 last May 2016.
“I think they’re right around where they need to be,” said CCAR President Jim Waller. “Last year was a good year, and we’re not that far down from that.”
“We’re still lacking some inventory,” he said. “We’d love to see some more listings. There’s a lot of buyers, and they’re not all able to find what they want.”
Of the homes sold this May, 124 were in Champaign, 60 in Urbana, 23 in Mahomet and 14 in Savoy. Homes stayed listed for 61 days though as compared to 69 days last year.
The median price of homes currently listed is $155,00 in May, a 5.8% increase from $146,500 in May 2016.
“Low mortgage rates are still triggering more buyer demand in this market but some buyers are finding it taking a bit longer to find the right property that suits their prerequisites. The number of new listings and inventory of homes for sale continue to decrease in the Champaign market area,” said Jim Waller, president of the Champaign County Association of REALTORS®. “REALTORS report inventory sales and strong buyer demand is leading to more multiple offer situations in this hot spring/summer selling market and buyers have to proceed quickly on their offer if they find the home they wish to purchase.”
Sellers should note that buyers are eager to purchase and are searching the market right now. In fact, Waller expounds that Champaign County is a still a viable place to reside despite the dip in sales.
“It’s economically stronger than most of the state,” he said. “And we have some companies in town that are hiring.”
This vintage five bdr Georgian colonial has been restored and beautifully renovated. The modern amenities in the remodeled kitchen and baths are lovely and there are improvements throughout the home. The large foyer opens into the elegant and comfortable living room. The dining room, with coffered ceiling, leads to the bright and airy modern kitchen. A private wood paneled office and sunroom complete the first floor. Up the grand front staircase are four generously sized bedrooms and three full baths. Continue up the back stairs to the third floor with fifth bedroom, full bath, mini-kitchen and family room. There is a second lot with a patio for entertaining…this is a lovely home.
There will be many open houses around Champaign Urbana this Sunday. If you want a place with a view, you should see this one.
A relaxing retreat to be sure! Don’t miss this 1st floor end unit, 2 bedroom condo overlooking Lake Devonshire.
Move right in and enjoy cooking in the fully appliance kitchen with breakfast bar.
Spacious living room is highlighted by the fireplace and offers lake views.
Ample parking is available as well as an attached garage. Condo fees include lawn care, snow removal, trash, recycling & exterior maintenance. Centrally located and convenient to parks, bus line and shopping.
Look at this move in ready ranch…walk right in this Sunday between 2 and 4! This home is completely updated and located on a large corner lot in an established neighborhood.
The spacious living room with hardwood floors is highlighted by large windows. Enjoy cooking in the eat-in kitchen, updated in 2010. Brand new HVAC system installed in Oct. 2012. New roof in 2008. Plenty of room in the over sized 2 car garage with workbench.
Convenient to campus, bus lines, shopping and parks!
This luxury home for sale in Champaign will be open this Sunday and we welcome you to come by to see it bewteen 2 and 4pm.
This exceptional home is located near one of Champaign’s premier golf courses. It was completely remodeled in 1994 & 2nd remodel in 2005. The home features an open floor plan and this provides for plenty of space for entertaining.
There are hardwood floors throughout much of the home.
Now and then a home comes on the market that offers lots and lots of space. This home has it. Not only is the location very convenient–right off of west Kirby near Centennial Park and High School and Jefferson Middle School.–but it is spacious enough for most Champaign home buyers who are needing space. There are four bedrooms and two baths and an open floor plan.
The home is situated on a large corner lot in a well-established neighborhood.
The living area has large windows which flood the room with natural light.
The dining room which offers access to the deck – perfect for outdoor living.
The fully-applianced kitchen with ceramic tile flooring offers an abundance of storage and counter space. Wood laminate flooring is found throughout bedrooms and living spaces. Oversized separate laundry room with shelving offers lots of storage.
Lower level with wall of built-in storage features plenty of space for a family room, rec are, office and more!
The Champaign County Association of Realtors reports that the real estate market in Champaign Urbana looks better and better. Association President Todd Salen made some comments quoted in a recent News Gazette article that give a very encouraging picture for the Champaign Urbana Market:
Median prices for homes is up from one year ago
Housing starts are up as well
The number of pending sales are 41 higher for April compared to a year ago
The forecast for the next two months is an expanding real estate market
Total value of homes sold so far this year is higher than a year ago
The job market in Champaign County is getting stronger
Salen also pointed out that the “echo boom” generation (an important part of the CU demography) are starting to invest in real estate.
So the indicators say this is a good time to list your home for sale…and it is a good time to buy as well.
Every year about this time the buyers start thinking about moving and the buying market shows up from out of town. Also as the News Gazette reported recently, the housing ,market has been “up” continuously for the past 19 months. This means that you home for sale in Champaign Urbana is in demand and this is an excellent time to get it listed.
So here are some tips on getting your house ready to sell from realtor.com. As you look over this article you will find that it is really simple: clean, paint, fix, and then clean more. If your house feels dirty and smells when someone walks in you are probably not going to get an offer. And remember: only you love the smell of your dog/cat.
When it comes to spending money- especially remodeling- talk to one of our team first. Sometimes this is a good pre-sale move. But usually it just makes you feel better. We can help you figure out if the investment you might make will pay back.
So give us a call..we can help you figure out what your home will bring, how to get it ready and help you in every step of the process.
Barb Schwartz joined the Sharon Harkness Real Estate team not long ago. Here is an intro to Barb from the Sharon Harkness site:
“Barb is a native of Central IL growing up in Philo. She holds a degree in child development and spent many years running her own small business. Barb has been with Keller Williams for the past 6 years serving as the MCA, handling all of the company’s financials. In 2012, she obtained her Brokers license and joined The Sharon Harkness Team. Barb resides with her husband Jim and has 3 grown children; Mandy, Nick and Ryan. Barb enjoys spending time with her family and traveling.”