The 25 detached, single-family homes sold during December in Orland Park outpaced the 19 homes sold in December 2011, according to the Mainstreet Organization of Realtors (MORe).

In November, homes were sold in Orland Park, compared to 27 sold in November 2011.

Despite climbing home sales, the median price of homes sold in December ($253,500) continue to decline over the median price of homes sold December 2011 ($275,000), a 7.8 percent-decrease.

The market for detached, single-family homes in suburbs throughout the Southland saw growth in December, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Chicago Heights saw the largest percent increase, with 188.9 percent more homes sold year over year in December. There were 9 homes sold that month in 2011 and 26 in 2012.

Flossmoor saw the largest percent drop, with 50 percent fewer homes sold year over year in December. 

Overall across the Chicago suburbs, sales of single-family detached homes rose 17.1 percent in December over the same month in 2011, according to MORe. 

MORe predicts January will be another month of local housing market growth, as the number of detached homes under contract in December 2012 was 58.3 percent higher than in December 2011. 

“We are cautiously optimistic for 2013, but that doesn’t mean people should wait to take advantage of this market,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Interest rates will rise as the economy improves, making it more expensive to finance the purchase of a home.”

SOURCE: Mainstreet Organization of Realtors

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