Real Estate
Tracking Real Estate in Oak Park, Forest Park and River Forest: November Home Sales
Forest Park shows a rebound in number of homes sold and in median price. The Oak Park and River Forest markets continue to grow, but selling prices remain largely the same.
The 10 detached, single-family homes sold during November in Forest Park represented a 100 percent increase over November 2011, according to the Mainstreet Organization of Realtors (MORe).
Forest Park saw the largest percent increase of the three villages. Oak Park saw a 15 percent increase in home sales and River Forest saw a 33 percent increase.
See the results for October in Oak Park and River Forest here.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
In addition, the median price of homes sold in Forest Park in November of $144,500 was 70 percent higher than the median price of homes sold in October 2011 of $85,000. Oak Park and River Forest saw little change in the median price of homes sold.
See the results for October in Forest Park here.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
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
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
