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Home Sales Up in Oak Park, Down in River Forest as Chicago Area Hits Six-Year High

Tinley Park's real estate market boomed in September as 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 west suburban Cook County saw a similar boost.

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Home sales in Oak Park saw a small bump over last year, even as the price the homes sold for fell. River Forest, saw a slight decrease in home sales since 2011, but also saw their prices fall. Forest Park was the only area community near Oak Park and River Forest that saw the number of sales increase, as prices went up.

La Grange Park saw the greatest increase in the area, with the number of homes sold increasing 140 percent in Sept. 2012 over Sept. 2011, according to the Mainstreet Organization of Realtors (MORe). The average price of those homes sold jumped by 15.4 percent year over year.

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 FOREST PARK 6 4 50.0 % 170,583 166,500 2.5 % LAGRANGE 11 9 22.2 % 363,272 447,222 -18.8 % LAGRANGE PARK 12 5 140.0 % 303,133 262,800 15.4 % LEMONT 11 11 0.0 % 371,954 328,636 13.2 % OAK PARK 27 20 35.0 % 376,011 432,025 -13.0 % RIVER FOREST 10 12 -16.7 % 583,800 695,854 -16.1 % WESTERN SPRINGS 12 12 0.0 % 653,291 448,133 45.8 %

Source: Mainstreet Organization of Realtors

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