Kankakee, IL - Local Housing Data - Summary

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Kankakee, Bradley, IL

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Kankakee, IL Local News

  • Kankakee, IL - March 2014 - Figures For New Home Closings Rise

    New home sales rose year-over-year in Kankakee, IL in March. Average prices of new and existing homes dropped 2.2%. Mortgage amounts on new homes moved up, rising 49.4%. Real Estate Owned (REO) closings as a percentage of existing home closings rose, climbing 3.5% percentage points. Foreclosures as...

  • Kankakee, IL - February 2014 - New Home Closings Stay Level

    New home sales remained level from a year ago in February. Foreclosures as a percentage of existing home closings dropped, falling 27.6% percentage points. Average prices of new and existing homes moved up, rising 1.1%. Real Estate Owned (REO) closings as a percentage of existing home closings rose,...

  • Kankakee, IL - January 2014 - New Home Closings Figures Signal Market Decline is Slowing

    New home sales fell in Kankakee, IL in January. Real Estate Owned (REO) closings as a percentage of existing home closings dropped, falling 10.0% percentage points. Average prices of new homes moved up, rising 72.5%. Foreclosures as a percentage of existing home closings rose, climbing 3.5%...

Newest Figures Show New Home Sales Increase in Kankakee, Prices Decline

Posted on: Aug 08, 2014 11:29:10 AM

There was an increase in closings of new homes in the Kankakee, IL market in April year-over-year, but the increase was less than March 2014. New home closings moved from 2 a year earlier to 5 after the figure moved from 1 in March 2013 to 3 in March 2014.

New home closings were 5 of the 129 total closings, up on a percentage basis from 2 of 159 a year earlier. Closings of new and existing homes dropped year-over-year in April after also falling in March year-over-year.

Pricing and Mortgage Trends

The average per-unit price of new homes was $252,000, compared with $293,500 last year. This came after a 75.9% boost in March year-over-year.

The average mortgage size went down to $137,100 from $224,000 a year earlier. Average mortgage size on new homes went from $121,505 in March 2013 to $202,307 in March 2014.

Other Market Trends

There was no change in the composition of the new home market with regard to the types of properties sold in April 2014.

 
 
 

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