La Grange Park Home Sales Up 140% as Chicago Area Hits Six-Year High
Tinley Park's real estate market boomed in September as the bulk of the Chicago area saw a bump in year-over-year comparisons.
Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report—and west suburban Cook County saw a similar boost.
La Grange Park saw the greatest increase in the area, with the number of homes sold increasing 140 percent in Sept. 2012 over Sept. 2011, according to the Mainstreet Organization of Realtors (MORe). The average price of those homes sold jumped by 15.4 percent year over year.
While home sales were flat in Western Springs, the average price rose 45.8 percent in Sept. 2012 over Sept. 2011, according to MORe.
Meanwhile, La Grange saw a 22.2 percent rise in sales, but an 18 percent drop in home price.
Across the Chicago area, the number of homes sold in September rose by 22 percent over Sept. 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006.
“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokesperson for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”
|# of homes sold||Avg. price|
|Town||2012||2011||% change||2012||2011||% change|
|FOREST PARK||6||4||50.0 %||170,583||166,500||2.5 %|
|LAGRANGE||11||9||22.2 %||363,272||447,222||-18.8 %|
|LAGRANGE PARK||12||5||140.0 %||303,133||262,800||15.4 %|
|LEMONT||11||11||0.0 %||371,954||328,636||13.2 %|
|OAK PARK||27||20||35.0 %||376,011||432,025||-13.0 %|
|RIVER FOREST||10||12||-16.7 %||583,800||695,854||-16.1 %|
|WESTERN SPRINGS||12||12||0.0 %||653,291||448,133||45.8 %|
Source: Mainstreet Organization of Realtors