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Saturday, December 14, 2019

Illinois City home prices fall in the first quarter of 2017

Real Estate

By Rock Island Today Reports | Apr 14, 2017

Re 10

The median sale price of a home sold in the first quarter of 2017 in Illinois City fell by $118,500 while total sales increased by 150%, according to BlockShopper.com.

From January through March of 2017, there were five homes sold, with a median sale price of $14,000 - a 89.4% decrease over the $132,500 median sale price for the same period of the previous year. There were two homes sold in Illinois City in the first quarter of 2016.

The median sales tax in Illinois City for 2017 was $3,004.34. In 2016, the median sales tax was $3,091.50. This marks an decrease of 2.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 21.5%.

The following table compares Illinois City to other Rock Island County cities with similar median sales prices in the first quarter of 2017:

City
Jan. - Mar. 2017 Home Sales
Jan. - Mar. 2016 Home Sales
% change (Total Home Sales)
Jan. - Mar. 2017 Median Sales Price
Jan. - Mar. 2016 Median Sales Price
% change (Median Sales Price)
Silvis
29
22
31.8%
$46,000
$83,750
-45.1%
Reynolds
3
0
-
$45,000
$0
-
Carbon Cliff
4
10
-60%
$42,000
$76,500
-45.1%
Milan
29
21
38.1%
$40,333.33
$112,000
-64%
Andalusia
5
6
-16.7%
$38,333.33
$86,000
-55.4%
Moline
153
130
17.7%
$34,166.67
$83,500
-59.1%
Rock Island
160
127
26%
$28,500
$74,000
-61.5%
Coyne Center
1
5
-80%
$28,333.33
$74,375
-61.9%
East Moline
65
55
18.2%
$28,333.33
$76,500
-63%
Cordova
1
6
-83.3%
$15,500
$245,000
-93.7%
Illinois City
5
2
150%
$14,000
$132,500
-89.4%

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