House Sales Drop in January, Prices Up

The 63 detached, single-family homes sold in Joliet in January represented a 7.4 percent increase over January 2012, when 68 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

The number of sales dropped fairly significantly compared to December 2012, when Joliet logged 83 homes sold.

However, the median price of homes sold in January was up -- $113,950 in January 2013 compared to $81,599 in January 2012. 

The market for detached, single-family homes in suburbs throughout Will and Kendall counties saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Oswego saw the largest percent increase, with 100 percent more homes sold year over year in January. There 26 homes sold that month in 2013 and 13 in 2012. 

Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe. 

MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012. 

“I am encouraged to see yet another month of double-digit growth in sales volume in January,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “The opportunity available in today’s marketplace is almost unprecedented. Fasten your seatbelts because this promises to be an outstanding year for the Chicago area housing market.”

150,000

141,000

229,900

222,000

113,950

81,599

150,000

126,450

118,950

134,500

197,500

230,000

185,000

159,000

130,000

137,900

210,000

226,250

223,000

Source: Mainstreet Organization of Realtors

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