Home sales in Champaign up significantly in 2015

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CHAMPAIGN - If rising home sale prices are a sign of an improving economy, Champaign County has reason to be optimistic.

The median home sale price for the Champaign County area shot up 5.64% in 2015. The median home sale price stood at $145,000 for the year, up from $137,250. In December, the median price rose 2.07% from 132,250 in December 2014 to $135,000 in December of 2015.

"Annual home sales rose to their highest level in eight years." said Stefanie Pratt, president of the Champaign County Association of REALTORS. 

According to Dr. Geoffrey Hewings, Director of the Regional Economics Application Laboratory at the University of Illinois, median home prices are forecast to grow in 2016 but within a narrower margin. 

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