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Oak Park Home Sales Double From Feb. to March

There were 35 homes sold in Oak Park during March 2013 and 10 sold in River Forest. See how that compares to the same time last year.

The 35 detached, single-family homes sold in Oak Park during March represented a 25 percent increase from March 2012, when 28 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

River Forest saw the largest percent increase in the listed western suburbs with 200 percent more homes sold year over year in March, up to nine from just three sold in March 2012.

The median price of homes sold in River Forest was also up compared to last year. It rose 46.7 percent to $550,000 from $375,000 during February 2012. Oak Park's median prices also increased, up 23.1 percent to $370,000 from $300,500 in 2012. 

Compared to February 2013, home sales doubled in Oak Park but were about the same in River Forest.

The market for detached, single-family homes in suburbs throughout west Cook County saw growth in March, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

River Forest saw the largest percent increase in sales, with 200 percent more homes sold year over year in March. Forest Park, Lemont and Western Springs had the highest percentage increase in median price.

The momentum is expected to continue as the number of detached homes under contract in March grew by 46 percent in those same communities. The median sale price for detached homes also increased 2 percent from the previous March.

“The spring market hasn’t been this busy since 2007,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “For homes that are priced right, multiple offers are coming in.” 

# of homes sold Median price Town March 2013 March2012 % change March 2013 March 2012 % change BURR RIDGE 15 19 -21.1% 655,000 658,000 -0.5% ELMHURST 46 28 64.3% 375,500 351,500 6.8% FOREST PARK 8 5 60%

221,500

128,000

73.1% HINSDALE 18 29 -37.9% 775,500 780,000 -0.6% LA GRANGE 9 9 0%

388,000

375,000

3.5% LA GRANGE PARK 10 4 150%

334,950

327,500

2.3% LEMONT 16 13 23.1%

326,250

192,000

69.9% OAK PARK 35 28 25%

370,000

300,500

23.1% RIVER FOREST 9 3 200%

550,000

375,000

46.7% WESTERN SPRINGS 10 9 11.1%

546,250

325,000

68.1%

Source: Mainstreet Organization of Realtors 

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