CHAMPAIGN — More than 230 homes were sold in November in Champaign County, a record for the month, according to the Champaign County Association of Realtors.
Homes sales were up 33 percent over the 177 sold last November.
Year to date, 2,853 homes have been sold, up 12.2 percent from last year through November. And home sale prices are also increasing, with the median home sale price in November at $177,300, up more than 14 percent from $155,000 a year ago.
“Showing activity remains considerably higher than a year ago, suggesting the holidays are not stopping or slowing home sales that could make this winter one of the best on record for sales activity,” said Liz McDonald, the president of the local real estate organization.
She said inventory is still limited, so homes aren’t lasting long on the market. Homes were on the market for an average of 71 days in November, down from 86 a year ago.
There were 181 pending sales in November, up from 139 a year ago.
“Record-low mortgage rates have helped to expand the pool of qualified buyers and renters contributing to an increase in sales activity as did the ‘work-from-home’ phenomenon,” McDonald said.
According to the Federal Home Loan Mortgage Corporation, the average 30-year fixed rate mortgage in November was 2.76 percent, down from 3.69 a year ago and 2.82 percent in October. As of Dec. 17, it was at 2.67 percent.