Real Estate
Western Springs Home Sales Up, Prices Down in Dec. Versus 2011
Four more homes were sold in December 2012 versus 2011 in the Village of Western Springs, but the median price of the sold homes was down by 23 percent.
The 13 detached, single-family homes sold during December in Western Springs represented a 44.4 percent increase over December 2011, according to the Mainstreet Organization of Realtors (MORe).
There were 15 homes sold in Western Springs during November.
The median price of homes sold in Western Springs during December ($385,000) was 23 percent lower than the median price of homes sold during December 2011 ($500,000).
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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.
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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
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