Homewood Up, Flossmoor Down in Home Sales from a Year Ago
December saw an increase in the number of Homewood homes sold compared to December 2011. Flossmoor went the other direction.
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The 15 detached, single-family homes sold during December in Homewood outpaced the ten homes sold in December 2011, according to the Mainstreet Organization of Realtors (MORe). Flossmoor's six sales, on the other hand, is half that of last year's—the largest percentage drop in the South Suburbs.
However, the median price of Homewood homes sold in December ($122,839) was 24.6 percent lower than the median price of homes sold in December 2011 ($162,835). At a median price of $226,316, Flossmoor saw a 2.8 percent drop in median value compared to December 2011 ($232,866).
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.
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
Juvenal
6:44 am on Thursday, January 24, 2013
Sol last time you reported sales in Flossmoor, the headline was that average sale prices dropped there. This time, when prices are up, the headline is that the number of sales dropped. Is this the real-estate version of "if it bleeds, it leads"? In Flossmoor's case the number of sales is always so small as to make comparisons of any two months almost completely meaningless, statistically.
Inspector Daggett
7:15 am on Thursday, January 24, 2013
Annual or bi annual trends are much more accurate snapshots of what may be happening in the market. Information about a single month sales contrasted with a year earlier is somewhat like talking about the only the 3rd quarter of a football game. You might get some good detail in there but won't really know what happened in the whole game. I would love to see 2012 compared to 2011 as a whole.
Inspector Daggett