Business & Tech
Mokena Home Sale Prices Dropped 4.3 Percent in 2010
A new Crain's Chicago Business comparison show sale prices for houses in Mokena dropped more than Frankfort but not as much as New Lenox.
Single-family home prices fell last year in most Chicago-area towns, and Mokena fell right between Frankfort and New Lenox.
Mokena home sale prices dropped 4.3 percent from the previous year, while New Lenox dropped 5.8 percent, the steepest decline in Will County.
According to Crain's Chicago Business, 238 of 252 Chicago-area zip codes tracked by Fiserv Inc. saw their home prices fall in 2010, with the overall drop being about 5.2 percent.
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Frankfort home prices dropped 2.6 percent, just two-tenths of a percent behind Naperville.
See below for a chart of the sales price drops for all area Patch towns.
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In a video covering the prices drops, a Crain's reporter said the biggest declines were in the city's southside neighborhoods. South suburban Harvey suffered the biggest drop, 19.6%, and area Patch towns closer to the city of Chicago also took bigger hits. Evergreen Park had a 9.6 percent drop, and Oak Lawn 8.7 percent. Neighboring Tinley Park dropped 5.2 percent.
West suburban Clarendon Hills had the largest increase, at 3.6 percent. There were no towns in Will County with increased sale prices.
The future should be brighter, though. According to Crain's, Fiserv predicts a fractional decrease in sale prices this year and an average 3.4 percent increase in 2012.
Town Percentage Drop Naperville (60564) -2.4 percent Frankfort -2.6 percent Bolingbrook (60440) -2.7 percent Shorewood -2.8 percent Channahon -3.1 percent Naperville (60565) -3.1 percent Plainfied (60544) -3.2 percent Romeoville -3.3 percent Flossmoor -3.4 percent Chicago Heights -4.2 percent Homewood -4.3 percent Mokena -4.3 percent Bolingbrook (60490) -4.4 percent Plainfield (60585) -4.5 percent Plainfield (60586) -5.0 percent Tinley Park -5.2 percent Oak Forest -5.3 percent Orland Park (60467) -5.5 percent New Lenox -5.8 percent Orland Park (60462) -6.0 percent Palos Heights -6.5 percent Palos Park -6.6 percent Palos Hills -6.8 percent Oak Lawn -8.7 percent Evergreen Park -9.6 percentGet more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
