Real Estate

River Forest Median Home Price Up 81.6 Percent Year-Over-Year

October home sales flat in Oak Park, down in River Forest. Median prices jump 81.6 percent in River Forest, 7.2 percent in Oak Park, according to the Mainstreet Organization of Realtors.

By Joe O'Donnell

The 38 single, detached homes sold in Oak Park during October 2013 represented no change over October 2012, and the 7 homes sold in River Forest represented a 22 percent dip from 2012, according to the Mainstreet Organization of Realtors (MORe).

In River Forest, the median price rose 81.6 percent, from $327,500 in October 2012 to $790,000 in October 2013. The median price rose 7.2 percent in Oak Park, from $327,500 in October 2012 to $351,000 in 2013, according to the statistics.

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In the wider Oak Park area, Forest Park experienced the most significant increase in sales over the same period last year (125 percent), with La Grange following at 88.9 percent. River Forest had the greatest percentage increase in median sale price, up 81.6 percent from October 2012 to October 2013. 

Overall, October 2013 sales in the Chicago suburbs were up 9.6 percent compared to the same time last year. The median sale price for detached homes increased 19.1 percent from the previous October, and the number of homes under contract rose by 17.4 percent.

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