CHAMPAIGN – It's official: Despite the economic slowdown, more homes were sold in Champaign County in 2009 than in 2008.

Figures released last week by the Champaign County Association of Realtors' Multiple Listing Service show 2,471 homes were sold in 2009, compared with 2,461 homes in 2008.

But the dollar value of sales was down about 2 percent – $367.8 million in 2009, compared with $374.3 million in 2008.

Fred McDonald, president of the Champaign County Association of Realtors, said it's too soon to declare a recovery, "but I think we're headed in the right direction."

"What I'd like to see is both the dollar volume and the number of units" above the year-ago figures, he said.

The Multiple Listing Service figures include not only home sales in Champaign County, but also some sales in Piatt and Douglas counties.

Going into the last month of the year, the number of homes sold in 2009 trailed the number sold at the same point in 2008. But a strong December, both in terms of number of homes sold and their selling price, lifted full-year 2009 over full-year 2008.

In December, 144 homes were sold, compared with 128 in December 2008, when the stock market's plunge had put a serious damper on the real estate market.

Sales volume, in dollars, was up, too, last month – $23.7 million, compared with about $18 million in December 2008.

Another encouraging sign for sellers and agents: The average selling price was $164,320, up 17 percent from $140,488 in December 2008.

McDonald said December didn't have as many sales as November, when people were rushing to take advantage of a first-time home buyer's credit before it expired. Congress ended up extending the credit into this year and broadened it so some existing homeowners are eligible for it.

The higher selling price in December might reflect the fact that not as many first-time home buyers were in the market, McDonald said. First-time buyers tend to buy lower-priced homes.

Citing national projections, McDonald said 2 million home buyers have taken advantage of the tax credit, and an additional 900,000 first-time buyers are expected to qualify in 2010.

A projected 1.5 million repeat buyers could also qualify for the credit, he said.

"Going forward, I have good reason to anticipate some numbers going up," he said.

To be eligible for the home buyer's credit, buyers must have a contract to buy a home by April 30 and close on the deal by June 30.

First-time buyers – defined as those who haven't owned a home in three years – can get a 10 percent credit on the purchase price, up to a maximum credit of $8,000. To be eligible, a single taxpayer can have an income up to $125,000 and married taxpayers can have income up to $225,000.

Repeat buyers – defined as those who have owned a home for five consecutive years out of the last eight years – can get a 10 percent credit, up to $6,500. Repeat buyers have the same income limits as first-time buyers.

More information about the credit can be found at www.federalhousingtaxcredit.com, a site sponsored by the National Association of Home Builders.