Community Corner
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.
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.)
Find out what's happening in Oak Lawnwith free, real-time updates from Patch.
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).
Find out what's happening in Oak Lawnwith free, real-time updates from Patch.
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
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
28.6%
150,000
155,000
-3.2% ORLAND PARK 30 5 500%237,750
345,000
229,950
100,000
130% PALOS HILLS 3 7 -57.1%290,000
175,000
65.7% PALOS PARK 3 3 0%340,000
28
10 180%192,000
159,950
20%SOURCE: Mainstreet Organization of Realtors.
Sign up for the Oak Lawn Patch newsletter and follow us on Facebook.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
