Palos Heights Home Prices Jumped in November
The housing market in the south suburbs experienced growth last month.
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The median price of homes sold during November in Palos Heights rose 6.8 percent to $231,00 over the same month last year, according to the Mainstreet Organization of Realtors (MORe).
The market for detached, single-family homes in suburbs throughout the Southland saw growth in November, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
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Mokena saw the largest percent increase, with 87.5 percent more homes sold year over year in November. There were 8 homes sold that month in 2011 and 15 in 2012.
Palos Park saw the largest percent drop, with 50 percent fewer homes sold year over year in November. It's worth noting the particularly small sample size: Three homes were sold in November 2012 compared to six in November 2011.
Overall across the Chicago suburbs, sales of single-family detached homes rose 35.6 percent in November over the same month in 2011, according to MORe.
MORe predicts December will be another month of local housing market growth, as the number of detached homes under contract in November 2012 was 54 percent higher than in November 2011.
“We are on pace to finish strong in 2012,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “It is a great time to be in the market, especially in the Chicago area. Every day we see signs that conditions are continuing to improve to the benefit of both buyers and sellers.”
| # of homes sold | Median price | |||||
| Town | 2012 | 2011 | % change | 2012 | 2011 | % change |
| CHICAGO HEIGHTS | 14 | 17 | -17.7% |
46,500 |
20,000 |
132.5% |
| EVERGREEN PARK | 22 | 16 | 37.5% |
146,000 |
126,000 |
15.9% |
| FLOSSMOOR | 9 | 7 | 28.6% |
200,000 |
112,000 |
78.6% |
| FRANKFORT | 20 | 17 | 17.7% |
310,000 |
280,000 |
10.7% |
| HOMEWOOD | 17 | 18 | -5.6% |
100,000 |
95,000 |
5.3% |
| MOKENA | 15 | 8 | 87.5% |
235,000 |
230,000 |
2.2% |
| NEW LENOX | 27 | 20 | 35% |
217,000 |
208,750 |
4% |
| OAK FOREST | 19 | 17 | 11.8% |
131,500 |
130,000 |
1.2% |
| OAK LAWN | 40 | 33 | 21.2% |
160,160 |
145,000 |
10.5% |
| ORLAND PARK | 30 | 27 | 11.1% |
289,950 |
263,000 |
10.3% |
| PALOS HEIGHTS | 8 | 10 | -20% |
231,000 |
216,250 |
6.8% |
| PALOS HILLS | 9 | 5 | 80% |
187,000 |
230,000 |
-18.7% |
| PALOS PARK | 3 | 6 | -50% |
380,000 |
471,500 | -19.4% |
| TINLEY PARK | 26 | 23 | 13% |
202,500 |
188,000 |
7.7% |
SOURCE: Mainstreet Organization of Realtors
