Community Corner
Oak Forest Home Sales in December Up from a Year Ago
December saw an increase in the number of homes sold in Oak Forest, along with a jump in the median price of homes sold in December 2011.
The 18 detached, single-family homes sold during December in Oak Forest represented a 20 percent increase over sales during December 2011, according to the Mainstreet Organization of Realtors (MORe).
In November,
However, the median price of homes sold in December ($147,500) was 1.6 percent lower than the median price of homes sold in December 2011 ($149,900).
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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.
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Flossmoor saw the largest percent drop, with 50 percent fewer homes sold year over year in December.
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.”
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
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
175,000
220,000
-20.5% PALOS HILLS 9 5 80%207,000
210,000
-1.4% PALOS PARK 9 5 80%403,000
200,599
186,500
7.6%SOURCE: Mainstreet Organization of Realtors
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