Home Sales Increase in La Grange, LG Park During May

The 18 detached, single-family homes sold in La Grange Park during May represented a 125 percent increase from May 2012, when eight homes were sold, according to the Mainstreet Organization of Realtors (MORe).

Home sales also increased in La Grange year-over-year, with 19 sold this year compared to 13 in May 2012.  

The median price of homes sold in La Grange this May also increased compared to last year, increasing 7.2 percent to $410,000 from $382,500 in May 2012. La Grange Park's median prices dropped just $1,000 from 2012 to 2013. 

The market for detached, single-family homes in suburbs throughout west Cook County saw growth in May, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

In the near west suburbs, Burr Ridge and Forest Park saw the largest percent increase in sales, with 183 percent more homes sold year over year in May. Burr Ridge also had the highest percentage increase in median price.

The momentum is expected to continue as the number of detached homes under contract in May grew by 45 percent. The median sale price for detached homes also increased 8.3 percent from the previous May, marking the third month in a row of year-over-year price growth.

“Buyers need to come in aggressively with their first price, especially on moderately priced homes in good condition,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “We are seeing multiple offers and people writing contracts on properties the day they come onto the market.”

Source: Mainstreet Organization of Realtors