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

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.”

144,500

85,000

323,500

385,000

235,500

190,000

390,000

290,000

340,000

338,312

590,500

610,000

442,500

375,000

Source: Mainstreet Organization of Realtors