River Forest Home Sales Double Year-over-Year in June

The 23 detached, single-family homes sold in River Forest during June represented a 91.7 percent increase from June 2012, when 12 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

Oak Park home sales were nearly stagnant, with the 43 sold being just one less than this time last year.

The median price of homes sold in June also increased in both towns compared to last year, up 32 percent in River Forest and about 5 percent in Oak Park. 

The market for detached, single-family homes in suburbs throughout west Cook County was a mixed bag in June, with some big jumps and other neighborhoods that were stagnant. MORe reported. MORe gets its statistics from Midwest Real Estate Data.

In the near west suburbs, River Forest saw the largest percent increase in sales and the highest percentage increase in median price.

The momentum is expected to continue as the number of detached homes under contract in June grew by 36.5 percent in those same communities. The median sale price for detached homes also increased 9.5 percent from the previous June, marking the fourth month in a row of year-over-year price growth.

 “A slow and steady growth in home prices, combined with more properties coming on the market, is creating ideal conditions for both buyers and sellers,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Buyers especially should look to act soon to lock in today’s low interest rates.”

Source: Mainstreet Organization of Realtors