June Home Sales: Woodridge Experiences Slight Increase in Prices, Sales

Posted in the Woodridge Patch by Mary Ann Lopez (Editor), July 16, 2013

Year-over-year, sales and prices increased slightly in Woodridge, while sales in DuPage County are up about 17 percent, according to the Mainstreet Organization of Realtors.

The 28 single, detached homes sold in Woodridge during June 2013 represented a 7.7 percent increase over June 2012, when 26 homes were sold, according to the Mainstreet Organization of Realtors (MORe). There were 30 homes sold in Woodridge during May.

As the number of homes sold increased slightly in Woodridge, the median home price also experienced some growth. The median price increased 4.3 percent to $242,500 from $232,500 in June 2012, according to the statistics.

Sales of single-family, detached homes in suburban Chicago increased 17.1 percent in June 2013 compared with the same period a year ago, MORe reported. Sales in the 200 communities MORe gathers information on in DuPage, Lake and suburban Cook counties – experienced notable sales gains last month.

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

In DuPage County, Clarendon Hills experienced the most significant increase in sales over the same period last year. Several Patch communities in DuPage County experienced a decline in the median sales price during June, but Downers Grove saw the largest decrease in price. Sales prices dropped -13.7 percent with sales prices declining from $355,000 in June 2012 to $306,500 in June 2013, according to the statistics.

Darien experienced the most significant decline in the number of homes sold, dropping -18.2 percent from June 2012.

Buyers should look to act soon if they are interested in buying so they lock in today’s low interest rates, said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park.

“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,” she said.