Shorewood Home Sales See Dramatic Increase

The 11 Shorewood homes sold in the month of October represented a 175 percent increase from October 2011. The homes sold for a median price of $185,000, down from $196,500 in October 2011. 

Shorewood home sales in October were off slightly from September, when 14 homes were sold. 

The market for detached, single-family homes in suburbs throughout Kendall and Will counties saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.

Romeoville saw the largest percent drop, with 18.2 percent fewer homes sold year over year in October. That shakes out to 27 homes sold in October 2012 compared to 33 sold in October 2011.

Overall across the Chicago suburbs, sales of single-family detached homes rose 44.6 percent in October over the same month in 2011, according to MORe. 

MORe predicts November will be another month of local housing market growth, as the number of detached homes under contract in October 2012 was 65.8 percent higher than in October 2011. 

“2012 has already been a strong year for the housing market, and we are seeing activity continue to increase,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Affordable home prices and historically low interest rates have created a rare opportunity for buyers. We are actually back to the point where we are seeing multiple offers on properties.”

150,000

179,950

168,000

190,000

104,000

105,000

160,000

103,950

155,000

154,000

212,610

219,290

174,950

199,500

125,000

122,000

185,000

196,500

240,000

Source: Mainstreet Organization of Realtors