Home Sales Up for May in Champaign County
By Jim Meadows
Home sales in Champaign County have now risen for six months in a row.
The Champaign County Association of Realtors reports 305 homes sold in May, an increase of 3.38% from May of last year.
Champaign County’s median home sale price for May was $143,000, 10% from a year ago.
Champaign, Savoy and the Mahomet area saw the greatest rise in home sales. The Champaign/Savoy region reported home sales up 7.14%, to 150 sales. The Champaign County west region, including Mahomet, reported 55 sales, compared to 31 in May, 2013. 50 homes were sold in Urbana, the same number reported last May.
Champaign County Association of Realtors president Phil Trautman said in a news release that home buyers seem to be gaining confidence, thanks in part to a drop in local unemployment, from 6.9% in May 2013, to 5.8% for May 2014.