Real Estate
Oak Lawn Home Sales, Values, Rise in November
Oak Lawn housing market made strong showing in November.
The 44 detached, single-family homes sold during November in Oak Lawn represented a 21.2 percent increase over November 2011, according to the Mainstreet Organization of Realtors (MORe).
In addition, the median price of homes sold in November ($160,160) was 1.2 percent higher than the median price of homes sold in November 2011 ($145,000).
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The market for detached, single-family homes in suburbs throughout the Southland saw growth in November, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Mokena saw the largest percent increase, with 87.5 percent more homes sold year over year in November. There were 8 homes sold that month in 2011 and 15 in 2012.
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Palos Park saw the largest percent drop, with 50 percent fewer homes sold year over year in November. It's worth noting the particularly small sample size: Three homes were sold in November 2012 compared to six 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.”
46,500
20,000
132.5% EVERGREEN PARK 22 16 37.5%146,000
126,000
15.9% FLOSSMOOR 9 7 28.6%200,000
112,000
78.6% FRANKFORT 20 17 17.7%310,000
280,000
10.7% HOMEWOOD 17 18 -5.6%100,000
95,000
235,000
230,000
2.2% NEW LENOX 27 20 35%217,000
208,750
4% OAK FOREST 19 17 11.8%131,500
130,000
1.2% OAK LAWN 40 33 21.2%160,160
145,000
10.5% ORLAND PARK 30 27 11.1%289,950
263,000
231,000
216,250
6.8% PALOS HILLS 9 5 80%187,000
230,000
-18.7% PALOS PARK 3 6 -50%380,000
202,500
188,000
7.7%SOURCE: Mainstreet Organization of Realtors
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