Champaign County housing sales up 5.8% in March

Champaign County housing sales up 5.8% in March

CHAMPAIGN — March was another strong month for housing sales in Champaign County, with sales up 5.8 percent compared to a year ago.

For the year's first quarter, sales were up 5.3 percent from 416 sold during last year's first quarter to 438 this quarter, according to the Champaign County Association of Realtors.

"A lot of people are moving into the area," said Jim Waller, the group's president. "We just have a good thing going in the Champaign County area."

In March, 182 homes were sold, up from 172 last March. Of those, 87 were sold in Champaign, 32 in Urbana, 19 in Mahomet and 11 in Savoy.

Mortgage rates are still relatively low, at 4.22 percent in March.

"Mortgage rates are hovering around 4 percent, making it an attractive time to lock in a home purchase while rates remain this low," Waller said.

In Champaign County, homes sold for an average of $173,514 this March, up from $163,078 last March.

Waller expects the strong home sales to continue. "It's just going to get busier as we get into summer," he said.

Sections (3):News, Local, Business
Topics (2):Economy, Housing

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