La Grange Sees Highest Increase in Median Home Sales Price in the Area

The 16 single, detached homes sold in La Grange in September 2013 represented a 45.5 percent increase over September 2012, when 11 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

In La Grange Park, 13 homes sold, representing an 8.3 percent increase from September 2012, when 12 homes were sold, MORe reports.

The median home price of sold La Grange homes, meanwhile, increased year over year while the median price of La Grange Park homes decreased 16.4 percent. 

The median price of a La Grange home increased from $270,000 in September 2012 to $491,500 in September 2013—or about 82 percent, according to the statistics. The median price of a La Grange Park home dropped from $281,000 in September 2012 to $235,000 in 2013.

In the wider west-suburban area, Burr Ridge experienced the most significant increase in sales over the same period last year (120 percent), with Forest Park and Lemont also seeing big jumps. La Grange had the greatest percentage increase in median sales price, up 82 percent from September 2012 to September 2013. 

Overall, September 2013 sales in the Chicago suburbs were up 30.7 percent compared to the same time last year. The median sale price for detached homes increased 12.6 percent from the previous September, and the number of homes under contract rose by 30.4 percent.