Most notably, July 2022 saw the lowest sales volume in the prior 5 years. Additionally, month-over-month Champaign-Urbana saw a 3.6% decline in median sales prices ($216,000 in July and $224,000 in June). However, please note that year-over-year median sales price increases are still above average at 6.3%.
Month-over-month sales in Champaign-Urbana saw and increase of 8.1% between October and November ($181,000 in October and $195,500 in September). This follows a decline in median sales prices in Q3, which stabilized in September. Marketing times have risen significantly, at 100 days on average, and is well above the average for the prior two years
While sales volume for June was strong, volume for July was the lowest in the prior 6 years with 13.6% fewer closings than July 2022. Overall, sales volume for the year is down 36.4%
It is noteworthy that January 2024 saw an 8-year high in overall sales volume, and an increase of 63.2% over January of 2023.
This shows a decrease in the number of sales of 329 homes or -16.8%. The median sale prices saw a 9.3% increase year-over-year. There are currently 151 homes on the market with an average marketing time of 106 days. This results in a 1.1-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.
This shows a decrease in the number of sales of 365 homes or -18.3%. The median sale prices saw a 9.7% increase year-over-year. There are currently 72 homes on the market with an average marketing time of 70 days. This results in a 0.5-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.
This shows a decrease in the number of sales of 394 homes or -19.4%. The median sale prices saw a 8.4% increase year-over-year. There are currently 173 homes on the market with an average marketing time of 85 days. This results in a 1.2-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market. Please note that the average marketing time of active listings is significantly above the average for closed sales in the prior 12 months.
This shows a decrease in the number of sales of 365 homes or -17.9%. The median sale prices saw a 6.9% increase year-over-year. There are currently 150 homes on the market with an average marketing time of 79 days. This results in a 1.1-month supply of homes in inventory, which is a significant shortage relative to historical supply demand relationships in this market.