Real Estate
La Grange, LGP Home Sales Continue to Rise Versus 2012
Both towns saw improvements in January over 2012 in number of homes sold and those homes' median prices.
The 11 detached, single-family homes sold in La Grange Park during January represented a 220 percent increase over January 2012, when 5 homes were sold, according to the Mainstreet Organization of Realtors (MORe).
In La Grange, the 10 homes sold represented a 67 percent increase over 2012, when 6 homes were sold in January.
In both towns, the median price of homes sold in January was also up. The median price rose 23.5 percent to $255,000 from $206,500 in La Grange Park in January 2012, and rose 7 percent to $438,750 from $409,750 in La Grange.
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The increases in sales are part of a continuing pattern also seen in December in the two towns.
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.
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
255,000
206,500
23.5% LEMONT 9 4 125%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
Source: Mainstreet Organization of Realtors
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