It's also up $1,000 compared to July '13.
"It's great to see this positive trend in home sales" says Steve Bois, CEO for RAR. "Increasing prices and rising sales point to an improving economic situation and a strengthening real estate market."
Bois also says owners of higher priced homes are starting to enter the market, helping to drive prices up.
RAR reports 376 homes were sold in July.
The Rockford area is also outpacing the nation in home sales. For the first half of the year, sales have increased 1.2% compared to 2013. Nationwide, home sales have dipped 5.6%.
RAR says this is the first time that's happened in a very long time, if ever.
"There is a lot of positive energy that we haven't seen before resulting from multiple factors like Transform Rockford, the community-wide ShareFest, a plethora of new events and activities available downtown, and the realization that the school system is clearly better."
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