March Home Sales: Woodridge Market Shows Decline; Median Price Makes Gains

Republished from an article in the Woodridge Patch by Mary Ann Lopez on April 23, 2013

Woodridge saw a moderate decrease in the number of homes sold during the month of March. The median home price rose more than 25 percent, according to the Mainstreet Organization of Realtors.

The 9 homes sold in Woodridge during March 2013 represented a -18.2 percent decrease over March 2012, when 11 homes were sold, according to the Mainstreet Organization of Realtors (MORe). While the number of homes sold decreased, the median price of homes sold in March increased moderately in Woodridge. The median price increased 27.7 percent to $212,000 from $166,000 in March 2012.
The market for detached, single-family homes in suburbs throughout DuPage County experienced notable sales gains in March, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Hinsdale had the biggest percentage drop in the number of homes sold, with -37.9 percent fewer homes sold year over year. That adds up to 18 homes sold during March 2013 compared with 29 sold in March 2012.
Elmhurst had the biggest percentage increase, with 64.3 percent more homes sold year over year. That adds up to 46 homes sold during March 2013 compared with 28 sold in March 2012.
Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park, cautioned sellers that the market still needs to shed more distressed properties before home prices make a complete recovery.
“The spring market hasn’t been this busy since 2007,” Corder said. “For homes that are priced right, multiple offers are coming in.”

	# of homes sold			Median sale price
Town	2013	2012	% change	2013	2012	% change
Burr Ridge	15	19	-21.1%	655,000	658,000	-0.5%
Darien	7	10	-30%	246,000	239,500	2.7%
Downers Grove	39	25	56%	274,000	267,000	2.6%
Elmhurst	46	28	64.3%	375,500	351,500	6.8%
Glen Ellyn	32	32	0%	338,500	255,625	32.4%
Hinsdale	18	29	-37.9%	775,000	780,000	-0.6%
Lemont	16	13	23%	326,250	192,000	69.9%
Lisle	8	12	-33.3%	272,050	261,000	4.2%
Naperville	102	85	20%	379,950	335,000	13.4%
Wheaton	44	35	25.7%	324,000	285,500	13.5%
Woodridge	9	11	-18.2%	212,000	166,000	27.7%