Local Business

County home sales up 45 percent

Closed home sales in McHenry County totaled 481 last month, up 45.3 percent from 331 in May 2012, according to a market report released Thursday by the Illinois Association of Realtors.

The median sales price for single-family homes increased 5.3 percent to $176,400, while condo prices fell 9.5 percent to $95,000 in May. The median price of all homes was up 1 percent compared to a year ago, $154,000 vs. $152,500 in 2012.

The inventory of all homes for sale dropped by 33 percent, from 3,014 to 2,020, while the days on market were down from 130 days in May 2012 to 80 days in 2013.

McHenry County home sales are up 38.3 percent for the first five months of 2013, Year-to-date, closed sales totaled 1,843 through May compared to 1,333 through May 2012. The year-over-year median sales price of all homes was up 0.9 percent to $141,250.

The median price for all properties in Kane County was $165.000 in May, up 4.4 percent from $158,000 in 2012. Year-over-year closed sales in Kane were up 41.6 percent, from 539 to 763. The median price for all properties in Lake County was $189,000, up 1.3 percent from May 2012. Closed sales were up 38.5 percent, from 737 to 1,021.

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