Oak Forest Home Sales Up from a Year Ago

Single-family home sales in the Chicago suburbs grew 33.2 percent in April 2013, compared to the same month in 2012, according to data provided by the Mainstreet Organization of Realtors (MORe).

In the south suburbs, sales in the majority of Patch communities aligned with this trend, with 12 out of 14 towns experiencing an increase in sales and only two towns experiencing a sales decrease.

READ: Check Out New Homes for Sale in Oak Forest

In Oak Forest, 21 homes were sold in April 2013—compared to 19 in April 2012. The median price dropped 14 percent, from $153,000 to $131,000. 

Palos Park saw the most growth in the Southland, with eight homes sold in April 2013 and compared to three homes sold one year prior, totaling a 166.7 percent increase in sales.

Sales in Palos Hills decreased by the largest percentage in the area, dropping from eight houses sold in April 2012 to two houses sold a year later.

Median home prices decreased in six of the 14 south suburban Patch communities, with Palos Heights leading the way after a 17.4 percent reduction in median sales prices compared to last year, from $303,714 in 2012 to 250,987 in 2013. Median prices rose the highest in Evergreen Park, from $104,718 to $138,670 year-over-year—a 32.4 percent increase.

According to realtors, if you’re in the market to buy, there’s no better time than now.

“Word about the activity in the market is getting around,” Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park said. “I think people who had been sitting on the sidelines are starting to realize that the market is accelerating. With today’s low interest rates and affordable home prices, if you are a buyer, your opportunity is now.”

43,574

36,956

17.9%

138,670

104,718

213,788

166,277

28.6%

312,500

353,500

150,900

116,157

291,646

272,963

25

255,080

255,770

135,718

146,273

-7.2 %

54.8%

149,065

157,104

-5.1 %

306,125

297,644

2.9 %

14.3%

250,987

303,714

-17.4%

-75.0%

235,500

183,674

28.2%

166.7%

331,000

284,333

16.4%

34

198,320

213,805

-7.2%

SOURCE: Mainstreet Organization of Realtors

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