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28
Illinois Quad Cities Housing Market is up 27%
Ruhl&Ruhl Realtors measures all regional housing activity on a quarterly basis in Western Illinois and Eastern Iowa. In the first half of the year, the Illinois Quad Cities market was up 27% in sales volume over the first half of 2014. This compares to a 6% increase in sales volume in the Iowa Quad Cities. The Three Top-Performing Markets in the Region during the First Half of 2015
- Cedar Rapids area (21% growth in sales volume)
- Illinois Quad Cities (27% growth in sales volume)
- Muscatine, Wilton Area (23% growth in sales volume)
In the Illinois Quad Cities, Coal Valley and Rural Moline led the percentage increase in sales volume with a 62% over the same period last year followed by a 46% increase in Henry County, a 35% increase in Rock Island and 24% increase in Moline. Sales in the first half of this year for the Illinois Quad Cities were 1,048 (which is a 15% increase from last year). The 1,048 sales is the highest number of properties sold in the first half of the year since 2006 when there were 1,054 sales. The average sales price in the Illinois Quad Cities jumped 10% to $117,100. In the Iowa Quad Cities, the average sales price is $189,800, up 4% since 2014. This disparity in prices is likely one reason sales have been stronger in the Illinois Quad Cities. "Homes are selling well in all price ranges. At the end of June, there were 1,626 properties for sales in the combined Iowa and Illinois Quad Cities, which is the lowest listing inventory in the region in 15 years (since 2000)," said Caroline Ruhl, president, Ruhl&Ruhl Realtors. "Thankfully, July has been a good month for new inventory but this is absolutely the best time to sell in many years due to the high demand and low inventory."
