Real Estate
Heights Home Sales Up Nearly 60 Percent Since Last Year
Chicago Heights' real estate market improved 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 most of the Southland saw a similar boost.
Chicago Heights saw a significant increase, with the number of homes sold increasing 58.3 percent in Sept. 2012 over Sept. 2011, according to the Mainstreet Organization of Realtors (MORe). The average price of those homes sold increased by less than one percent year over year.
Palos Hill's market was the most sluggish, with the number of homes sold falling 42.9 percent in Sept. 2012 compared to Sept. 2011. (The sample size in Palos Hills, however, was small, with four homes sold in 2012 and seven sold in 2011.)
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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.”
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Source: Mainstreet Organization of Realtors
Patch Associate Regional Editor Lauren Williamson contributed to this report.
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