Residential Real Estate

Regional Report: Midwest

And the second largest single-family price jump was in Peoria, Illinois -- which rose 10.4 percent to $119,000. The Midwestern region also topped the NAR"s report in the condo market -- with Wichita, Kansas, seeing the 3rd best market for appreciation at 11.7 percent from last year. That brings the median price of condos in the area to $106,000. Realtor Susan Klages of St. Charles, Illinois, reported the Realty Times, "Spring is picking up, and the buyers out there seem to be very savvy to our real estate market right now. Mortgage rates are very competitive also. ... The average sale price was 95% of the list price." To the west in Shawnee, Kansas, Realtor Jacqueline McCroy Elbert reports that the market is neutral at this time. The area is a rapidly growing community due to its desirable location in Johnson County, Kansas. She reports that the average sales price for new homes is $372,000 -- down slightly from last year. The number of sales are down as well.

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