Real Estate
Flossmoor Homes Selling for Nearly 40 Percent Less Than Last Year
Homewood and Flossmoor both experienced a boost in home sales since last September as the bulk of the Chicago area saw a bump in year-over-year comparisons.
Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report—and most of the Southland saw a similar boost.
Homewood saw a significant increase, with the number of homes sold increasing 27.3 percent in Sept. 2012 over Sept. 2011, according to the Mainstreet Organization of Realtors (MORe). Flossmoor saw an 18.8 percent in the same category.
The most jarring number for the H-F area is the nearly 40 percent drop in average selling price for homes in Flossmoor over the course of just one year. Homewood saw a nine percent drop in the same category.
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Palos Hills' market was the most sluggish, with the number of homes sold falling 42.9 percent in Sept. 2012 compared to Sept. 2011. (The sample size in Palos Hills, however, was small, with four homes sold in 2012 and seven sold in 2011.)
Across the Chicago area, the number of homes sold in September rose by 22 percent over Sept. 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006.
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“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokesperson for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”
# of homes sold Avg. price Town 2012 2011 % change 2012 2011 % change CHICAGO HEIGHTS 19 12 58.3% 47,468 47,116 0.8% EVERGREEN PARK 17 18 -5.6% 120,617 131,355 -8.2% FLOSSMOOR 10 9 11.1% 155,600 257,055 -39.5% FRANKFORT 19 16 18.8% 328,805 331,031 -0.7% HOMEWOOD 14 11 27.3% 105,942 116,444 -9% MOKENA 14 11 27.3% 250,285 315,318 -20.6% NEW LENOX 30 15 100% 235,225 264,710 -11.1% OAK FOREST 15 13 15.4% 162,733 168,284 -3.3% OAK LAWN 33 33 0% 181,400 162,848 11.4% ORLAND PARK 22 19 15.8% 275,318 283,942 -3% PALOS HEIGHTS 8 5 60% 254,612 340,400 -25.2% PALOS HILLS 4 7 -42.9% 173,682 214,257 -18.9% PALOS PARK 7 4 75% 262,000 303,915 -13.8% TINLEY PARK 29 14 107.1% 229,024 183,507 24.8%Source: Mainstreet Organization of Realtors
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