The median city sale price in January was $269,000, an increase of 5.5 percent from a year ago. that's a smaller increase than the 9.6 percent in December but but except for that stronger than any other month since February 2018.

In the nine-county metropolitan area, 5,795 homes sold in January, according to the Illinois Realtors data. That’s up 9.5 percent from January 2019 and follows December’s 14.1 percent increase in sales. Before December, the region’s home sales were down in 15 out of 16 months.

The median sale price last month in the metro area was $233,000, up 4 percent from a year ago after a 5.3 percent increase in December.

“January started off the new year on a positive note with home sales and prices increasing month-over-month and annually, reflecting recent national sales trends,” Geoffrey J.D. Hewings, director of the Regional Economics Applications Laboratory at the University of Illinois, said in prepared comments that accompanied the data. Data on pending sales suggests this momentum may be sustained for the next several months and consumers are optimistic about the short- and medium-term prospects for the economy. The major concern continues to be the amount of inventory for sale.”

Hewings’ comment on pending sales is backed up by a report issued this week by the Mainstreet Organization of Realtors. The number of homes that went under contract to buyers in January was up 21.3 percent from the same time a year ago across the suburbs Mainstreet represents, which covers a broad, representative swath.

The improvement in Chicago’s housing market is largely in line with the national picture. January home sales were up 9.6 percent, according to data released today by the National Association of Realtors, and the median price of homes sold rose by 6.8 percent.