The 18 detached, single-family homes sold in Oak Forest during January represented a 12.5 percent increase over January 2012, when 16 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

There were 18 homes sold in Oak Forest during December 2012, compared to 15 sold in December 2011.

The median price dropped in January, coming in at $135,000—a 14.3 percent decrease over the same month in 2012. 

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.)

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.”

SOURCE: Mainstreet Organization of Realtors.

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