East Central Reporter

In August, the median sale price of a home in Coles County rose by $8,000 from the same period in the previous year, while total sales decreased by 2.4%, according to BlockShopper.com.

There were 81 homes sold in August, with a median sale price of $120,000 - a 7.1% increase over the $112,000 median sale price for the same period of the previous year. Data shows 83 homes sold in Coles County in August 2023.

Based on the latest available data from 2021, the median sales tax in Coles County was $1,804, which stands at 1.5% of August's median home sale price.

The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market's value in 2000.

“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.

The following histogram displays changes in median sales prices in Coles County from August 2023 to August 2024.