Morgan home sales show 12.3% increase over previous year

The region’s housing market continues posting double-digit increases in most counties, with Morgan County’s 12.3 percent increase in sales through July leading the way in west-central Illinois.

Another positive sign of a strengthening market has been a substantial decrease in the amount of time houses stay on the market before they sell, according to the latest figures from the Illinois Association of Realtors.

More than 180 houses were sold in Morgan County in the first seven months of the year, which marked a 12.3 percent increase over the same period in 2012. The median sale price of $88,000 since January was down slightly, but by July had topped $101,300. The median is not an average, but rather the point at which half the houses sold for more and half sold for less.

The statewide median through July was…click here to read the full article from Journal Courier.