Oak Lawn Home Sales See January Bounce
Oak Lawn's home sales see gain but median prices are still lower year over year, says Mainstreet Realtors Organization.
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The market for detached, single-family homes in suburbs throughout the Southland saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Evergreen Park saw the largest percent increase, with 850 percent more homes sold year over year in January. There were 19 homes sold that month in 2013 and 2 in 2012.
Palos Hills had the greatest drop, with 57.1 percent fewer homes sold year over year. That shakes out to 3 homes sold during January 2013 compared to 7 sold in January 2012. (It's worth noting the particularly small sample size.)
Oak Lawn's January 2013 home sales saw a 28.6 percent increase over the same period last year, with 27 homes sold compared to 21 in January 2012.
Despite the bounce in home sales, the median price of homes sold in January 2013 ($150,000) continue to show a 3.2 percent decrease over the median price of homes sold in January 2012 ($155,000).
Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe.
MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012.
“I am encouraged to see yet another month of double-digit growth in sales volume in January,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “The opportunity available in today’s marketplace is almost unprecedented. Fasten your seatbelts because this promises to be an outstanding year for the Chicago area housing market.”
| # of homes sold | Median price | |||||
| Town | January 2013 | January 2012 | % change | January 2013 | January 2012 | % change |
| CHICAGO HEIGHTS | 18 | 15 | 20% |
70,000 |
55,000 |
27.3% |
| EVERGREEN PARK | 19 | 2 | 850% |
125,100 |
159,995 |
-21.8% |
| FLOSSMOOR | 7 | 4 | 75% |
215,000 |
147,750 |
45.5% |
| FRANKFORT | 17 | 12 | 41.7% |
280,000 |
297,500 |
-5.9% |
| HOMEWOOD | 19 | 18 | 5.6% |
89,000 |
89,950 |
-1.1% |
| MOKENA | 14 | 7 | 100% |
237,750 |
302,000 |
-21.3% |
| NEW LENOX | 12 | 11 | 9.1% |
242,500 |
220,000 |
10.2% |
| OAK FOREST | 18 | 16 | 12.5% |
135,000 |
157,555 |
-14.3% |
| OAK LAWN | 27 | 21 |
28.6% |
150,000 |
155,000 |
-3.2% |
| ORLAND PARK | 30 | 5 | 500% |
237,750 |
345,000 |
-31.1% |
| PALOS HEIGHTS | 8 | 3 | 166.7% |
229,950 |
100,000 |
130% |
| PALOS HILLS | 3 | 7 | -57.1% |
290,000 |
175,000 |
65.7% |
| PALOS PARK | 3 | 3 | 0% |
340,000 |
280,000 | 21.4% |
| TINLEY PARK |
28 |
10 | 180% |
192,000 |
159,950 |
20% |
SOURCE: Mainstreet Organization of Realtors.
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