Housing market improving: Numbers still not as good as 2008
By JONATHAN BILYK – jbilyk@kcchronicle.com
The local housing market appears to have brightened somewhat last month.
Home sales, however, still lagged well behind the home sale numbers of a year ago.
According to the latest report issued by the Illinois Association of Realtors, home sales in DeKalb County continued to rebound in the month of May.
In DeKalb County, 89 homes sold in May, an increase of 56 percent compared to April, when 57 homes sold in that county. The figure, however, is down 64 percent vs. May 2008, when 146 homes sold in DeKalb County.
The local trend mirrored the trend statewide. The number of homes sold in Illinois improved 19.3 percent compared to April, but home sales declined 21 percent when compared to May 2008.
Likewise, the amount of money paid for homes locally and across Illinois improved in May, as well.
The Illinois median price in May was $158,000, an increase of 4.5 percent from $151,200 in April. The May figure, however, was down 16 percent from $188,000 a year ago.
In DeKalb County, median home prices increased 9.8 percent, from $157,500 in April to $173,000 in May. The median price, however, declined 1.7 percent from $176,000 compared to May 2008.
In Kane County, the median home price – or the price at which half the homes sold in a certain period of time cost more and half cost less – was $202,000 in May. That price is up 7.8 percent from April, when the median price was $187,450. The May median price, however, was down 8.2 percent compared to May 2008, when the median home sold for $220,000 in Kane County.
In DuPage County, median home prices declined 11.5 percent from May 2008 to May 2009, falling from $260,000 to $230,000. The price also decreased 2.9 percent from April, falling from $236,750.
And in Kendall County, home sale prices declined 11 percent from May 2008 to May 2009, from $234,950 to $209,000.
By the numbers
Home sales in May 2009 vs. May 2008 in Kane, surrounding counties
DeKalb: 89 sold in May 2009, down 64 percent
Kane: 306 sold in May 2009, down 26 percent
DuPage: 663 sold in May 2009, down 19 percent
Kendall: 105 sold in May 2009, down 12.5 percent
Source: Illinois Association of Realtors
