La Grange Park's real-estate market experienced a dramatic uptick in October 2012 over the same month last year, with an increase of 225 percent in over October 2011.
The number of actual homes sold this October was 13, compared to the four sold during the same period last year. This follows a 140 percent increase in La Grange Park in September over September 2012.
Western Springs and La Grange each had one more house sold this October than last, with 10 and nine, respectively.
All three towns also saw increases in median price of sales over last October.
The market for detached, single-family homes in suburbs throughout west Cook County saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.
Forest Park's market was the most sluggish, holding flat at four homes sold in both October 2012 and 2011.
Overall across the Chicago suburbs, sales of single-family detached homes rose 44.6 percent in October over the same month in 2011, according to MORe.
MORe predicts November will be another month of local housing market growth, as the number of detached homes under contract in October 2012 was 65.8 percent higher than in October 2011.
“2012 has already been a strong year for the housing market, and we are seeing activity continue to increase,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park.
“Affordable home prices and historically low interest rates have created a rare opportunity for buyers. We are actually back to the point where we are seeing multiple offers on properties.”# of homes sold Median price Town 2012 2011 % change 2012 2011 % change FOREST PARK 4 4 0%
200,500-25.9% LA GRANGE 9 8 12.5%
377,75023.8% LA GRANGE PARK 13 4 225%
221,5007.1% LEMONT 19 11 72.7%
305,000-4.9% OAK PARK 38 22 72.7%
407,500-19.6% RIVER FOREST 9 7 28.6%
625,000-30.4% WESTERN SPRINGS 10 9 11.1%
Source: Mainstreet Organization of Realtors