Southland home sales surged in November; up 26 percent over 2011
By Mike Nolan firstname.lastname@example.org December 20, 2012 4:58PM
Home sales in the Southland jumped 26 percent in November over a year earlier. | File photo
Sales of existing single-family homes for selected Southland communities:
Chicago Heights: Sales last month of 14 homes down from 17 in November 2011, while the median sale price leaped 132 percent, to $46,500.
Country Club Hills: Sales of 11 homes unchanged from a year earlier; median sale price down 13 percent, to $65,000.
Homewood: Seventeen homes sold last month, down a tick from 18 sold in November 2011; median price up 5.3 percent to $100,000.
Matteson: Sales of 18 homes up from 11 a year earlier; median price up 159 percent to $137,500.
Mokena: Fifteen homes sold compared with 8 in November 2011; median price up 2.2 percent to $235,000.
Oak Lawn: Sales of 40 homes last month up from 33 a year earlier; median price up 10.5 percent to $160,160.
Orland Park: Thirty homes sold compared with 27 in November 2011; median price up 10.3 percent to $289,950.
Tinley Park: Sales of 26 homes up from 23 a year earlier; median price up 7.7 percent to $202,500.
Source: Mainstreet Organization
Updated: January 22, 2013 6:26AM
Sales of existing single-family homes in the south and southwest suburbs surged in November, while prices posted a marginal improvement, according to new real estate data.
There were 717 homes sold last month, an increase of 26 percent over the 569 homes sold in November 2011, according to the Mainstreet Organization of Realtors. The median sale price, however, crept up by less than 2 percent, to $122,000.
More Southland communities than not saw year-over-year increases in home sales, likely helped by mortgage loan rates that have stayed at record lows for several weeks.
But median sale prices continued to have trouble gaining traction, falling by double digits in several suburbs and rising negligibly in a few others. Just a handful of communities last month saw any substantial year-over-year gains in sale prices.
For the Chicago metro area, home sales last month shot up more than 36 percent compared with a year earlier, while the median sale price rose just 3.4 percent, to $155,000.