Orland Park Homes Sales Rise, Prices Continue Downward in 2013
Orland Park saw a solid rise in home sales compared to Jan. 2012, but median prices went down again, compared to both Jan. 2012 and Dec. 2012, according to the Mainstreet Organization of Realtors.
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The 30 detached, single-family homes sold in Orland Park during January was noticeably higher than January 2012, when five homes were sold, according to the Mainstreet Organization of Realtors (MORe).
But the median house price paints a different picture, with prices sharply heading downward. In January 2012, the median cost for house was about $345,000 in the village, while last month the median cost was about $237,750, a drop in price of about 31.1 percent, according to MORe.
In Dec. 2012, the median house price was $253,000.
The market for detached, single-family homes in suburbs throughout the Southland saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.
Evergreen Park saw the largest percent increase, with 850 percent more homes sold year over year in January. There were 19 homes sold that month in 2013 and 2 in 2012.
Palos Hills had the greatest drop, with 57.1 percent fewer homes sold year over year. That shakes out to 3 homes sold during January 2013 compared to 7 sold in January 2012. (It's worth noting the particularly small sample size.)
Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe.
MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012.
“I am encouraged to see yet another month of double-digit growth in sales volume in January,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “The opportunity available in today’s marketplace is almost unprecedented. Fasten your seatbelts because this promises to be an outstanding year for the Chicago area housing market.”
| # of homes sold | Median price | |||||
| Town | January 2013 | January 2012 | % change | January 2013 | January 2012 | % change |
| CHICAGO HEIGHTS | 18 | 15 | 20% |
70,000 |
55,000 |
27.3% |
| EVERGREEN PARK | 19 | 2 | 850% |
125,100 |
159,995 |
-21.8% |
| FLOSSMOOR | 7 | 4 | 75% |
215,000 |
147,750 |
45.5% |
| FRANKFORT | 17 | 12 | 41.7% |
280,000 |
297,500 |
-5.9% |
| HOMEWOOD | 19 | 18 | 5.6% |
89,000 |
89,950 |
-1.1% |
| MOKENA | 14 | 7 | 100% |
237,750 |
302,000 |
-21.3% |
| NEW LENOX | 12 | 11 | 9.1% |
242,500 |
220,000 |
10.2% |
| OAK FOREST | 18 | 16 | 12.5% |
135,000 |
157,555 |
-14.3% |
| OAK LAWN | 27 | 21 |
28.6% |
150,000 |
155,000 |
-3.2% |
| ORLAND PARK | 30 | 5 | 500% |
237,750 |
345,000 |
-31.1% |
| PALOS HEIGHTS | 8 | 3 | 166.7% |
229,950 |
100,000 |
130% |
| PALOS HILLS | 3 | 7 | -57.1% |
290,000 |
175,000 |
65.7% |
| PALOS PARK | 3 | 3 | 0% |
340,000 |
280,000 | 21.4% |
| TINLEY PARK |
28 |
10 | 180% |
192,000 |
159,950 |
20% |
SOURCE: Mainstreet Organization of Realtors.
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voklst
8:16 am on Thursday, February 21, 2013
How very interesting....my husband & I plan on buying a house next February 2014 and we pray the prices do not go up too drastically in the meantime. I lost my previous house to 1) losing my job & 2) foreclosure. This was in 2005 when gas was over $4.50/gal. Had to move back to moms house. Got a job a week later. There was no Bail-out or help from We the People...one week later I got a new job. My husband going thru a messy divorce at the time lost 50% equity in his house due to market drop and lawyers took a good chunk out. So though we have a new life-we are ready for a new home. Keeping my eyes very closely on the Real Estate market for available
homes.