Mokena Home Sales Up 27.3% as Chicago Area Hits Six-Year High
The village's real estate market grew in September as the bulk of the Chicago area saw a bump in year-over-year comparisons. Check out the numbers and tell us what you think it means for the local housing market.
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.
Mokena experienced growth, with a 27.3 percent increase in the number of homes sold, from 11 homes sold in September 2011 to 14 homes sold in September 2012.
Average sale price, however, dropped 20.6 percent, from $315,318 in September 2011 to $250,285 in September 2012.
Tinley Park saw the greatest increase in the area, with the number of homes sold increasing 107.1 percent in September 2012 over September 2011, according to the Mainstreet Organization of Realtors (MORe). The average price of those homes sold jumped by 24.8 percent year over year.
Palos Hill's market was the most sluggish, with the number of homes sold falling 42.9 percent in September 2012 compared to September 2011. (The sample size in Palos Hills, however, was small, with four homes sold in 2012 and seven sold in 2011.)
Across the Chicago area, the number of homes sold in September rose by 22 percent over September 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 spokeswoman 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.”
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SOURCE: Mainstreet Organization of Realtors
YOUR TURN: What do you think these numbers say about the housing market in Tinley? Is it on the upswing for the long haul? Or is this just a short-term blip? Share you thoughts in the comments section.
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