Real Estate
Oak Park and River Forest Home Sales Increase: December Home Sales
Oak Park and River Forest see more home sales from a year and homes are selling at a higher price.
The 25 detached, single-family homes sold during December in Oak Park represented a 47.1 percent increase over December 2011, according to the Mainstreet Organization of Realtors (MORe). In River Forest, home sales were up by 100 percent.
See the results for home sales in November here.
The median price of homes sold in Oak Park during December ($395,000) was 33 percent higher than the median price of homes sold during December 2011 ($297,000).
Find out what's happening in Oak Park-River Forestfor free with the latest updates from Patch.
The market for detached, single-family homes in suburbs throughout west suburban Cook County saw growth in December, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Forest Park and La Grange Park tied for the largest percent increase, with 200 percent more homes sold year over year in December. In Forest Park, there were three homes sold that month in 2011 and nine in 2012. There were four homes sold in La Grange Park during December 2011 and 12 sold in December 2012.
Find out what's happening in Oak Park-River Forestfor free with the latest updates from Patch.
La Grange saw the smallest amount of growth, with 18.2 percent more homes sold year over year in December. That shakes out to 13 homes sold in November 2012 compared to 11 sold in December 2011.
Overall across the Chicago suburbs, sales of single-family detached homes rose 17.1 percent in December over the same month in 2011, according to MORe.
MORe predicts January will be another month of local housing market growth, as the number of detached homes under contract in December 2012 was 58.3 percent higher than in December 2011.
“We are cautiously optimistic for 2013, but that doesn’t mean people should wait to take advantage of this market,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Interest rates will rise as the economy improves, making it more expensive to finance the purchase of a home.”
235,000
135,000
74.1% LA GRANGE 13 11 18.2%520,000
447,500
16.2% LA GRANGE PARK 12 4 200%258,500
192,500
34.3% LEMONT 11 7 57.1%352,500
286,000
23.3% OAK PARK 25 17 47.1%395,000
297,000
892,000
460,000
93.9% WESTERN SPRINGS 13 9 44.4%385,000
500,000
-23%Source: Mainstreet Organization of Realtors
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.