Oak Lawn Home Sales Climb in December But Sale Prices Fall
36 homes were sold in Oak Lawn during December 2012
Photos
The 36 detached, single-family homes sold during December in Oak Lawn outpaced the 26 homes sold in December 2011, according to the Mainstreet Organization of Realtors (MORe).
In November, 44 homes were sold in Oak Lawn, compared to 33 sold in November 2011.
Despite climbing home sales, the median price of homes sold December ($161,250) continue to decline over the median price of homes sold December 2011 ($166,500), a 3.2 percent-decrease.
The market for detached, single-family homes in suburbs throughout the Southland saw growth in December, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Chicago Heights saw the largest percent increase, with 188.9 percent more homes sold year over year in December. There were 9 homes sold that month in 2011 and 26 in 2012.
Flossmoor saw the largest percent drop, with 50 percent fewer homes sold year over year in December.
Overall across the Chicago suburbs, sales of single-family detached homes rose 17.1 percent in December over the same month in 2011, according to MORe.
MORe predicts January will be another month of local housing market growth, as the number of detached homes under contract in December 2012 was 58.3 percent higher than in December 2011.
“We are cautiously optimistic for 2013, but that doesn’t mean people should wait to take advantage of this market,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Interest rates will rise as the economy improves, making it more expensive to finance the purchase of a home.”
| # of homes sold | Median price | |||||
| Town | 2012 | 2011 | % change | 2012 | 2011 | % change |
| CHICAGO HEIGHTS | 26 | 9 | 188.9% |
34,500 |
20,500 |
68.3% |
| EVERGREEN PARK | 14 | 15 | -6.7% |
122,750 |
80,000 |
53.4% |
| FLOSSMOOR | 6 | 12 | -50% |
233,950 |
210,500 |
11.1% |
| FRANKFORT | 28 | 17 | 64.7% |
330,000 |
335,000 |
-1.5% |
| HOMEWOOD | 15 | 10 | 50% |
90,000 |
154,175 |
-41.6% |
| MOKENA | 13 | 7 | 85.7% |
279,000 |
385,000 |
-27.5% |
| NEW LENOX | 19 | 19 | 0% |
250,000 |
244,368 |
2.3% |
| OAK FOREST | 18 | 15 | 20% |
147,500 |
149,900 |
-1.6% |
| OAK LAWN | 36 | 26 | 38.5% |
161,250 |
166,500 |
-3.2% |
| ORLAND PARK | 25 | 19 | 31.6% |
253,500 |
275,000 |
-7.8% |
| PALOS HEIGHTS | 8 | 7 | 14.3% |
175,000 |
220,000 |
-20.5% |
| PALOS HILLS | 9 | 5 | 80% |
207,000 |
210,000 |
-1.4% |
| PALOS PARK | 9 | 5 | 80% |
403,000 |
410,000 | -1.7% |
| TINLEY PARK | 22 | 18 | 22.2% |
200,599 |
186,500 |
7.6% |
SOURCE: Mainstreet Organization of Realtors
Richard
4:19 pm on Wednesday, January 23, 2013
The statistics are meaningless because the numbers involved are too small. The science of statistics would tell us that the numbers are not "statistically significant" because you'd need much larger numbers ("sample size") for the results to be significant. In other words it's random variation.