Highest 1Q Home Sale Price on Record
SPRINGFIELD (May 9, 2008) The median sale price of existing-home sales - including single-family, townhomes and condominiums for the first quarter of 2008 reflected an all-time high of $98,800, according to the Capital Area Association of REALTORS® (CAAR). Total home sales equaled 668 units during the first quarter of 2008, reflecting a 19.3 percent decrease from the first quarter of 2007. According to CAAR president, Phil Chiles, ABR, GRI, several factors help to explain why home sales were off during the first quarter. “The harsh winter, tighter credit standards including loss of 100 percent financing, skyrocketing fuel prices and a lack of measurable job growth in the Capital area are all largely to blame,” said Chiles. (Click Headline for Complete Article)

March Home Prices up Sales Down
SPRINGFIELD (April 22, 2008) For the month of March 2008, the median home sale price (for all single-family homes and condominiums) was $104,000, an increase of 4.0 percent over the $100,000 March 2007 price. Home sales in the Capital Area during the month of March amounted to 252 units. Although March 2008 home sales experienced their fourth consecutive month-to-month increase, sales were down 29 percent from March of 2007. Among other things the weather, credit crunch, inflation and lack of local job growth were blamed for a reduction in home sales. (Click Headline for Complete Article)

February Home Sales up 2.1 Percent in Capital Area
SPRINGFIELD (March 24, 2008) Home sales in the Capital Area were up 2.1 percent in February of 2008 with 241 homes sold, compared to 236 homes sold in February of 2007. “Our February home sales activity was a bit remarkable considering the extreme weather conditions we have experienced this winter,” said REALTOR Phil Chiles, president of the Capital Area Association of REALTORS®. For the month of February 2008, the median home sale price (for all single-family homes and condominiums) was $98,000, an increase of 14.0 percent over the $86,000 February 2007 price. ( Click Headline for Complete Article)

Median Home Price up 7.5 Percent in January
SPRINGFIELD (February 25, 2008) For the month of January 2008, the median home sale price (for all single-family homes and condominiums) was $100,000, an increase of 7.5 percent over the $93,000 January 2007 price. “While other markets continue to experience price corrections following a prolonged period of rapid growth we continue to be blessed with steady gains in the median home sale price,” said REALTOR Phil Chiles, president of the Capital Area Association of REALTORS. The median is a typical market price where half the homes sold for more, half sold for less. ( Click Headline for Complete Article)

CAAR Reports a 7.9 Percent increase in the 4Q 2007 Home Sale Price
SPRINGFIELD (February 13, 2008) According to the Capital Area Association of REALTORS (CAAR) sales of existing-homes – including single-family, townhomes, condominiums and coops amounted to 824 during the fourth quarter of 2007, reflecting a modest decline of 2.8 percent from the 2006 fourth quarter home sales figure of 848. For 2007 there were 4,013 home sales in the Capital Area reflecting a slight decline of 4.1 percent from the 4,176 sales recorded in 2006. ( Click Headline for Complete Article)

Local Home Sales up 8.2 Percent in December
SPRINGFIELD (January 24, 2008) The unit home sales rate and the median home sale price increased in the Capital Area during December 2007, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Service. For the month of December 2007, total home sales (which include single-family and condominiums) were up 8.2 percent with 224 homes sold, compared to 207 homes sold in December of 2007. For year-to-date through December of 2007 home sales totaled 4,002, down 4.1 percent from the 4,175 homes sold during the same period of time during 2006. ( Click Headline for Complete Article)

Capital Area REALTORS Kick-off "Buy Now" Campaign
SPRINGFIELD (January 17, 2008) At a membership breakfast today held at the Hoogland Center for the Arts the Capital Area Association of REALTORS® (CAAR) officially launched a consumer oriented marketing campaign targeting prospective homebuyers in the Capital Area. The campaign is intended to combat a barrage of negative national news reports about the national real estate market and instill greater confidence in the local real estate market. (Click Headline for Complete Article)

Local Home Sales up 6.2 Percent in November
SPRINGFIELD (January 2, 2008) The unit home sales rate increased while the median home sale price decreased in the Capital Area during November 2007, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Service. For the month of November 2007, total home sales (which include single-family and condominiums) were up 6.2 percent with 309 homes sold, compared to 291 homes sold in November of 2006. November 2007 home sales were 9.2 percent ahead of the 283 sales recorded in October of this year. For year-to-date through November of 2007 home sales totaled 3,773, down 2.8 percent from the 3,883 homes sold during the same period of time during 2005, which ended up as the best year on record. (Click Headline for Complete Article)

Radon Disclosure Requirements Begin January 1
SPRINGFIELD (December 17, 2007) When a buyer and seller sign a contract on residential real estate property in Illinois on or after January 1, 2008, the new Illinois Radon Awareness Act will apply to the sales transaction. According to the new law, the seller must supply the buyer with two documents before the buyer will become bound on a contract to purchase the property. The first is a pamphlet from the Illinois Emergency Management Agency (IEMA) entitled “Radon Testing Guidelines for Real Estate Transactions.” The second is a form to sign called “Disclosure of Information on Radon Hazards.” (Click Headline for Complete Article)

Median Home Sale Price Increases 11.5 Percent in October
SPRINGFIELD (November 28, 2007) The median home sale price increased while unit home sales decreased in the Capital Area during October 2007, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Service. For the month of October 2007, total home sales (which include single-family and condominiums) were down 19.1 percent with 283 homes sold, compared to 350 homes sold in October of 2006. However, October 2007 home sales were only 24 units shy of the 307 sales recorded in September of this year. The Capital Area median home sale price in October was $104,000, up 11.5 percent from the $93,300 October 2006 price. (Click Headline for Complete Article)

CAAR Median Home Price Up 0.7 Percent in the
Third Quarter of 2007
SPRINGFIELD (November 21, 2007) In spite of a slight dip in home sales in the Capital Area during the third quarter of 2007 the median home sale price reflected a gain over the same period in 2006, according to the Capital Area Association of REALTORS (CAAR).
For the third quarter of 2007, total home sales (which include single-family homes and condominiums reported sold through the CAAR Multiple Information Service) amounted to 1,110, reflecting a 3.5 percent decrease from the 1,150 sales reported during the third quarter of 2006. Year-to-date home sales totaled 3,179 in 2007, down 4.4 percent from the 3,327 homes sold during January through September of 2006. (Click Headline for Complete Article)

Median Home Sale Price Dips in September
SPRINGFIELD (October 24, 2007) The median home sale price and unit home sales in the Capital Area recorded a dip during September 2007, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Service. For the month of September 2007, total home sales (which include single-family and condominiums) were down 16.0 percent with 305 homes sold, compared to 363 homes sold in September of 2006. For year-to-date through September of 2007 home sales totaled 3,176, down a mere 2.3 percent from the 3,252 homes sold during the same period of time during 2005, which went on to be the best year on record. (Click Headline for Complete Article)

Area Home Sales up 0.9 in August
SPRINGFIELD (October 1, 2007) Home sales in the Capital Area for August 2007 surpassed those of July 2007 as well as last August, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Serivce. Year-to-date home sales totaled 2,871 in 2007, nearly matching the 2,891 homes sold during January through August of 2005 which went on to be the best year on record. For the month of August, total home sales (which include single-family and condominiums) were up 0.9 percent to 412 homes sold, compared to 389 homes sold in July of 2007 and 408 sales in August of 2006. (Click Headline for Complete Article)

Home Sales Post Third Best Quarter on Record
SPRINGFIELD (August 9, 2007) Sales of single-family homes in the Capital Area amounted to 1,238 during the second quarter of 2007, according to the Capital Area Association of REALTORS® (CAAR). This was the third best second quarter on record and only 3.5 percent off the second quarter of 2007 which was the best second quarter on record. (Click Headline for Complete Article)

No Place Like Home When it Comes to Local Market
(Letter to the Editor of the State Journal-Register)
SPRINGFIELD (July 2, 2007) Fortunately, the article in Tuesday’s marketplace section pertaining to the current national housing market bears little resemblance to the local housing market. In spite of this story’s sensational headline the current outlook for the local housing market is much more positive than what is portrayed in this story. The important thing to keep in mind is that all real estate is local. (Click Headline for Complete Article)

CAAR Honors 2007 Award Recipients
SPRINGFIELD (May 24, 2007) Cheryl Dambacher, ABR, CRS, GRI was selected by her peers as the 2007 REALTOR® of the Year. This cherished award is presented annually to a REALTOR® who has exhibited strict adherence to the REALTOR® Code of Ethics, has a reputation of cooperation and honest business conduct, and has an outstanding interest in civic and community affairs. This and several other awards were presented at CAAR's Annual Awards Program held on May 24, 2007. (Click Headline for Complete Article)

REALTORS® Establish Fund to Benefit the Community
SPRINGFIELD (June 5, 2007) As a result of the recommendation from a task force of the association's past presidents the association has established a donor advised fund within the Sangamon County Community Foundation (SCCF). The fund has been named "The Capital Area REALTORS Fund." A $5,000.00 contribution will serve as seed money to get this fund off the ground. Generally speaking, "this fund is intended for the overall betterment of our community and to enhance the quality of life that it offers," said Peter Steward, CAAR President (Click Headline for Complete Article)

REALTORS Donate $10,000 to Helping Hands Shelter
SPRINGFIELD (May 24, 2007) At its Annual Awards Program on May 24, held at Illini Country Club, the Capital Area Association of REALTORS (CAAR) presented a check for $10,000.00 to the Helping Hands Shelter of Springfield . (Click Headline for Complete Article)

Median Home Sale Price is Strongest on Record
SPRINGFIELD (April 24, 2007) The median sale price of an existing home reflected an all-time first quarter record at $93,900, according to the Capital Area Association of REALTORS® (CAAR). Total existing-home sales – including single-family, townhomes, condominiums and co-ops – equaled 819 units during the first quarter of 2007. With an impressive 819 homes sold the first quarter 2007 sales reflect the second highest first quarter on record. However, home sales were off 8.1 percent from the first quarter 2006 record pace of 891 sales. (Click Headline for Complete Article)

REALTORS OPPOSE Gov's $6 Billion Tax Increase
SPRINGFIELD (March 20, 2007) The Board of Directors of the Capital Area Association of REALTORS ® (CAAR) have voted unanimously to OPPOSE the governor's recent proposal to implement a gross receipts tax on businesses. This opposition is due to the negative impact the tax would have on business, construction, home values and the economy. (Click Headline for Complete Article)

REALTOR Event Raises $9,000 for the Homeless
SPRINGFIELD (March 21, 2007) Due to the generosity of nearly 150 attendees the Capital Area Association of REALTORS® (CAAR) was able to raise approximately $9,000 at a fundraiser held on March 14th to benefit the homeless in Springfield. Attendees for the event, which was held at the Inn at 835, included REALTORS®, CAAR Affiliate members and guests. (Click Headline for Complete Article)

2006 Home Sales Vary by Community
The Capital Area Association of REALTORS® recently released year-end 2006 home sales report listing sales activity by community reveals varied results. According to CAAR President Peter Steward, ABR, CRS, GRI, “some communities such as Petersburg, Athens, Riverton and Taylorville posted very healthy increases in unit sales. Other communities such as Rochester, Sherman and Williamsville experienced sizeable decreases. However, these decreases were not all that surprising coming off of extremely high sales volumes in 2005", said Steward. (Click Headline for Complete Article)

2006 Home Sales End in Photo Finish
SPRINGFIELD (January 25, 2007) Sales of existing-homes amounted to 846 during the fourth quarter of 2006, reflecting a 10.2 percent decrease from the 2005 fourth quarter home sales figure of 942. The Capital area median existing single-family home sale price for the fourth quarter of 2006 was $95,000, reflecting a 3.1 percent decrease from the prior year’s fourth quarter price of $98,000. (Click Headline for Complete Article)

3Q CAAR Home Sales Down 3.8 Percent up 1.8% YTD
SPRINGFIELD (November 17, 2006) In spite of a slight 3Q dip home sales in the Capital Area continue to remain ahead of the record level set in 2005, according to the Capital Area Association of REALTORS (CAAR) Multiple Information Serivce. Year-to-date home sales totaled 3,298 in 2006, up 1.8 percent over the 3,239 homes sold during January through September of 2005. For the 3Q, total home sales (which include single-family and condominiums) were down 3.8 percent to 1,135 homes sold, compared to 1,180 sales during the 3Q of 2005. The year-to-date Capital Area median home sale price was $102,000 in 2006, up 1.0 percent over the $101,000 price during January through September of 2005. The 3Q median home sale price was $106,000 reflecting a 0.9 percent decrease from the $107,000 median sale price during the 3Q of 2005. (Click Headline for Complete Article)

CAAR Pledges $125,000 Toward Economic Development
The Capital Area Association of REALTORS® strongly supports a bold new Economic Development Strategy put forth by the Greater Springfield Chamber of Commerce (GSCC) and the the Economic Development Council Springfield and Sangamon County. Although the Chamber launched its general fundraising campaign on October 12 it was in July that the CAAR Board of Directors approved a motion to participate with a contribution of $125,000 over a five-year period. (Click Headline for Complete Article)

Area Home Sales Are up 2.1 Percent Year-to-Date
SPRINGFIELD (September 29, 2006) Home sales in the Capital Area are ahead of the record level set in 2005, according to the Capital Area Association of REALTORS® (CAAR) Multiple Information Serivce. Year-to-date home sales totaled 2,937 in 2006, up 2.1 percent over the 2,877 homes sold during January through August of 2005. For the month of August, total home sales (which include single-family and condominiums) were down 6.1 percent to 402 homes sold, compared to 428 sales in August 2005. The Capital Area median home sale price in August was $110,000, up 2.3 percent over the $107,500 price a year earlier. The median is a typical market price where half the homes sold for more, half sold for less. With August’s increase the year-over-year median price for existing single family homes has increased five out of the last six months. (Click Headline for Complete Article)

Home Sales Continue to Impress
SPRINGFIELD (July 26, 2006) Sales of existing single-family homes for the second quarter of 2006 were the second best on record for the Capital area’s housing market surpassing the expectations of many, according to the Capital Area Association of REALTORS®. The 1,252 existing single family home sales reported during the second quarter of 2006 were only slightly below the prior year’s record-setting second quarter of 1,266 homes sold.
(Click Headline for Complete Article)

CAAR Donates $10,000 to Iles House Foundation
SPRINGFIELD (May 24, 2006) At its Annual Awards Program held May 24th at the Inn at 835 the Capital Area Association of REALTORS® (CAAR) made a $10,000 donation to the Elijah Iles House Foundation. CAAR President Cheryl Dambacher and CAAR Community Service Committee Chairman Dana Lyons presented the check to Dave Barringer, President of the Iles House Foundation and Dick Hart, Board member. (Click Headline for Complete Article)

CAAR Reports Double Digit Increase in Home Sales
SPRINGFIELD (May 11, 2006) Much to the pleasant surprise of many existing home sales established an all-time record during the first quarter of this year, according to the Capital Area Association of REALTORS® (CAAR). Total existing-home sales equaled 874 units during the first quarter of 2006. First quarter 2006 sales were the highest first quarter on record, and were an impressive 10.4 percent above the 792 unit pace during the first quarter of 2005. This represents the fifth consecutive year that first quarter home sales were at record levels. (Click Headline for Complete Article)

REALTORS Donate $20,000 to American Red Cross for Tornado Relief
SPRINGFIELD (March 16, 2006) Today the Capital Area Association of REALTORS® (CAAR) announced a $10,000 cash contribution to the American Red Cross to be designated for local disaster relief efforts. (Click Headline for Complete Article)

4th Quarter Home Sales up 8.9% (2005 is a Record)
SPRINGFIELD (February 9, 2006) Sales of existing-homes – including single-family, townhomes, condominiums and coops – amounted to 929 during the fourth quarter of 2005, reflecting a 8.9 percent increase over the 2004 fourth quarter home sales figure of 854. This strong fourth quarter boost assured that 2005 would finish with a record number of sales finishing 4 percent ahead of 2004 with 4,164 sales. The median price for 2005 was $100,000, reflecting an impressive increase of 7.6 percent over the 2004 price of $92,900. (Click Headline for Complete Article)

Strong Third Quarter for Home Sales
SPRINGFIELD (November 10, 2005) Strong housing market fundamentals propelled sales of existing-single family homes to the second highest pace on record in the third quarter of 2005, according to the Capital Area Association of REALTORS® (CAAR). Figures released today by CAAR reveal that 1,175 existing single-family home sales were recorded during the third quarter of 2005. This reflects a 1.8 percent decrease from the 1,197 record-setting sales pace set during the 2004 third quarter. (Click Headline for Complete Article)

CAAR Contributes $5,000 to Hurricane Katrina Relief Efforts
SPRINGFIELD (September 19, 2005) Capital Area REALTORS® have rallied to help families devastated by Hurricane Katrina and its aftermath. The Capital Area Association of REALTORS® (CAAR) announced that it will make a contribution of $5,000 to the REALTORS® Relief Foundation of the National Association of REALTORS® (NAR). The donation from Capital Area REALTORS® joins the $100,000 pledged by the Illinois Association of REALTORS and the $2,150,000 million pledged by the NAR to fund the emergency relief efforts underway by the Mississippi Association of REALTORS®, Louisiana Association of REALTORS® and Alabama Association of REALTORS®. (Click Headline for Complete Article)

Record Home Sales Surprise
SPRINGFIELD (August 11, 2005) Sales of existing single-family homes for the second quarter of 2005 surpassed market expectations and reached another record as low mortgage interest rates and favorable market conditions continued to attract buyers, according to the Capital Area Association of REALTORS®. Home sales during the second quarter of 2005 exceeded the prior year’s record-setting second quarter by 3.8 percent with 1,252 homes sold as compared to 1,206 homes sold during the same period of 2004. (Click Headline for Complete Article)

Hanselman Named REALTOR of the Year
Richard Hanselman, CRS, GRI was selected by his peers as the 2005 REALTOR® of the Year. This cherished award is presented annually to a REALTOR® who has exhibited strict adherence to the REALTOR® Code of Ethics, has a reputation of cooperation and honest business conduct, and has an outstanding interest in civic and community affairs. This and several other awards were presented at CAAR's Annual Awards Program held on May 19, 2005. (Click Headline for Complete Article)

Record Sales & Price Appreciation Mark 1Q Housing Market
SPRINGFIELD (May 02, 2005) Existing-home sales continued its record-setting trend during the first quarter of 2005 along with strong home price gains, according to the Capital Area Association of REALTORS®. First quarter 2005 sales were the highest first quarter on record, and were 5.3 percent above the 742 unit pace during the first quarter of 2004. This represents the fourth consecutive year that first quarter home sales were at record levels. (Click Headline for Complete Article)

CAAR Contributes $10,000 to Springfield Green
SPRINGFIELD (April 13, 2005) The Capital Area Association of REALTORS® (CAAR) is proud to announce that it has become a major partner in the Springfield Green initiative through a $10,000.00 contribution that was presented to Mayor Timothy J. Davlin today. (Click Headline for Complete Article)

4Q Area Home Sales Decline Slightly
2004 Finishes Up
SPRINGFIELD (February 8, 2005) Sales of existing single-family homes amounted to 768 during the fourth quarter of 2004, reflecting a 5.7 percent decrease from the 2003 fourth quarter home sales figure of 814. In spite of a fourth quarter decline in sales 2004 marked the best year on record finishing five units ahead of 2003 with 3,660 sales. The Capital area median existing single-family home sale price for the fourth quarter of 2004 was $95,000, reflecting a 5.7 percent increase over the prior year’s fourth quarter price of $89,900. The median price for 2004 was $94,000, reflecting a more modest growth of 2.2 percent over the 2003 price of $92,000. The median is the midpoint in the price range; half the homes sold cost more, half cost less. (Click Headline for Complete Article)