Real Estate
Western Springs Home Sales Hold Steady Versus Jan. 2012
Median price is up slightly and number of homes sold remains the same as improvements continue in many surrounding neighborhoods.
While the 8 detached, single-family homes sold in Western Springs during January represented no increase over January 2012, when 8 homes were sold, according to the Mainstreet Organization of Realtors (MORe), the median price of homes sold was up slightly.
The median price for homes sold in Western Springs rose 4 percent to $420,000, from $401,250 in January 2012.
The market for detached, single-family homes in suburbs throughout west Cook County saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
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River Forest saw the largest percent increase, with 400 percent more homes sold year over year in January. There were 5 homes sold that month in 2013 and 1 in 2012. (It's worth noting the small sample size.)
Forest Park was the only suburb in the sample that didn't see growth during January. Its market held flat at five homes sold during both January 2012 and 2013.
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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.”
# of homes sold Median price Town January 2013 January 2012 % change January 2013 January 2012 % change BURR RIDGE 12 8 50% 679,918 500,950 35.7% ELMHURST 35 18 94.4% 327,500 222,500 47.2% FOREST PARK 5 5 0%118,000
141,000
-16.3% HINSDALE 12 17 -29.4% 837,500 850,000 -1.5% LA GRANGE 10 6 66.7%438,750
409,750
7.1% LA GRANGE PARK 11 5 200%255,000
206,500
248,000
322,950
-23.2% OAK PARK 33 17 94.1%355,000
307,500
15.5% RIVER FOREST 5 1 400%915,000
619,000
47.8% WESTERN SPRINGS 8 8 0%420,000
401,250
4.7%Source: Mainstreet Organization of Realtors
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