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Homewood-Flossmoor October Home Sales

Realty reports show H-F home sales are on the rise even though Homewood median home prices have dropped since last year.

Both Homewood and Flossmoor saw a positive jump in home sales last October compared to a year ago. The news isn't all good, however, as the median price of Homewood home sales dropped fifteen percent. Flossmoor homes, on the other hand, are selling for over 40 percent more than the previous year.

The market for detached, single-family homes in suburbs throughout the Southland saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.

Oak Forest experienced the most dramatic percent change in the number of homes sold, with an uptick of 144.4 percent in October 2012 over October 2011. The number of actual homes sold this October was 22, compared to the nine sold during the same period last year.

Palos Heights saw the largest percent drop, with 36.4 percent fewer homes sold year over year in October. That shakes out to 7 homes sold in October 2012 compared to 11 sold in October 2011.

Overall across the Chicago suburbs, sales of single-family detached homes rose 44.6 percent in October over the same month in 2011, according to MORe. 

MORe predicts November will be another month of local housing market growth, as the number of detached homes under contract in October 2012 was 65.8 percent higher than in October 2011. 

“2012 has already been a strong year for the housing market, and we are seeing activity continue to increase,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Affordable home prices and historically low interest rates have created a rare opportunity for buyers. We are actually back to the point where we are seeing multiple offers on properties.”

# of homes sold Median price Town 2012 2011 % change 2012 2011 % change CHICAGO HEIGHTS 13 11 18.2%

55,000

48,000

14.6% EVERGREEN PARK 17 19 -10.5%

120,000

94,000

27.7% FLOSSMOOR 13 11 18.2%

234,000

165,000

41.8% FRANKFORT 22 19 15.8%

213,000

310,000

-31.3% HOMEWOOD 20 15 33.3%

85,000

100,000

-15% MOKENA 19 16 18.8%

299,000

235,000

27.2% NEW LENOX 21 19 10.5%

255,000

254,000

0.4% OAK FOREST 22 9 144.4%

161,500

175,000

-7.7% OAK LAWN 45 30 50%

158,500

164,450

-3.6% ORLAND PARK 34 21 61.9%

274,950

245,000

12.2% PALOS HEIGHTS 7 11 -36.4%

305,000

202,500

50.6% PALOS HILLS 6 4 50%

198,000

170,000

16.5% PALOS PARK 7 0 --

375,000

0 -- TINLEY PARK 28 19 47.4%

199,500

176,300

13.2%

Source: Mainstreet Organization of Realtors

Related Topics: Home SalesMainstreet Organization of Realtors, and Southland Housing Market

Blue Moon November 20, 2012 at 03:57 PM
I find it deeply disturbing when "realtors" report these numbers about Homewood, when in fact the overwhelming number of those sales were short sales, estate sales and foreclosures, which is not the case in Flossmoor. The sales price of vacant, distressed properties is not indicative of the lovely homes we have in our town, and in other times short sales and foreclosures would NOT have been used to calculate comparables for listings and appraisals for mortgages. This is borne out by the fact that the price of home rental in Homewood is very high because we do have a fantastic town and school district. Oh, and how do I know this? Because I've been looking for a house in the H-F area for six months now.
Fay Booker November 20, 2012 at 08:38 PM
There is also a problem of small numbers here. Much ado about very little....
Raurie November 21, 2012 at 12:11 AM
Blue moon I appreciate your comment:) homewood has been a wonderful community to live in. It has a fabulous school system and fantastic downtown! It is very disappointing to see the average price of a home here. There are so many lovely homes and great opportunities.

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