Palos Sees Extremes in Home Sales as Chicago Area Hits Six-Year High
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.
Palos Heights and Palos Park experienced some of the biggest increases in the area. Palos Heights saw home sales jump by 60 percent in Sept. 2012 over Sept. 2011, according to the Mainstreet Organization of Realtors (MORe). Palos Park sales spiked 75 percent in the same year-over-year comparison.
Palos Hill's market was the most sluggish, both in the Palos area and among Southland towns, with the number of homes sold falling 42.9 percent in Sept. 2012 compared to Sept. 2011.
(Note: The sample sizes in all three Palos towns were small, compared to most other Southland towns in the report.)
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.
“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|
Source: Mainstreet Organization of Realtors