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La Grange Home Sales Triple, LGP Increase in Nov. over Nov. 2011

La Grange saw the highest increase in number of home sales over November 2011 last month from any town around; La Grange Park also saw a boost in sales and in price of homes sold.

The 16 detached, single-family homes sold during November in La Grange represented a 220 percent increase over November 2011, according to the Mainstreet Organization of Realtors (MORe).

La Grange Park saw 14 homes sold, a 56 percent increase, MORe reported.

In addition, the median price of homes sold in November in La Grange Park ($442,500) was 18 percent higher than the median price of homes sold in November 2011 ($375,000). (The La Grange median sale price dipped slightly from $385,000 to $323,500.)

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

La Grange saw the largest percent increase, with 220 percent more homes sold year over year in November. There were 5 homes sold that month in 2011 and 16 in 2012.

Oak Park saw the smallest amount of growth, with 15 percent more homes sold year over year in November. That shakes out to 23 homes sold in November 2012 compared to 20 sold in November 2011.

Overall across the Chicago suburbs, sales of single-family detached homes rose 35.6 percent in November over the same month in 2011, according to MORe. 

MORe predicts December will be another month of local housing market growth, as the number of detached homes under contract in November 2012 was 54 percent higher than in November 2011. 

“We are on pace to finish strong in 2012,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “It is a great time to be in the market, especially in the Chicago area. Every day we see signs that conditions are continuing to improve to the benefit of both buyers and sellers.”

# of homes sold Median price Town 2012 2011 % change 2012 2011 % change FOREST PARK 10 5 100%

144,500

85,000

70% LA GRANGE 16 5 220%

323,500

385,000

-16% LA GRANGE PARK 14 9 55.6%

235,500

190,000

24% LEMONT 13 9 44.4%

390,000

290,000

34.5% OAK PARK 23 20 15%

340,000

338,312

0.5% RIVER FOREST 4 3 33.3%

590,500

610,000

-3.2% WESTERN SPRINGS 15 5 200%

442,500

375,000

18%

Source: Mainstreet Organization of Realtors 

Bruno Fontana December 19, 2012 at 08:01 PM
As someone who is planning to move from this soon-to-be-bankrupt state within the next couple of years. This pleases me to no end.

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