Real Estate
Orland Park Home Sales Continue to Rise
Orland Park's housing market saw another increase in 2012 during October, rising just shy of 62 percent with 34 sales compared to 21 last year. Median selling price also went up.
Orland Park's home sales increased for the second month in a row, compared to sales during September and October 2011, according to a recent real estate report.
The village saw a 61.9 increase in sales for October, with 34 homes sold. In Oct. 2011, 21 homes were sold, according to the report. The median selling price also perked up, going up to $274,950 in Oct. 2012 from $245,000 in Oct. 2011.
The market for detached, single-family homes in suburbs throughout the Southland saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Oak Forest experienced the most dramatic percent change in the number of homes sold, with an uptick of 144.4 percent in October 2012 over October 2011. The number of actual homes sold this October was 22, compared to the nine sold during the same period last year.
Palos Heights saw the largest percent drop, with 36.4 percent fewer homes sold year over year in October. That shakes out to 7 homes sold in October 2012 compared to 11 sold in October 2011.
Interested in local real estate?Subscribe to Patch's new newsletter to be the first to know about open houses, new listings and more.
Overall across the Chicago suburbs, sales of single-family detached homes rose 44.6 percent in October over the same month in 2011, according to MORe.
MORe predicts November will be another month of local housing market growth, as the number of detached homes under contract in October 2012 was 65.8 percent higher than in October 2011.
“2012 has already been a strong year for the housing market, and we are seeing activity continue to increase,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “Affordable home prices and historically low interest rates have created a rare opportunity for buyers. We are actually back to the point where we are seeing multiple offers on properties.”
# of homes sold Median price Town 2012 2011 % change 2012 2011 % change CHICAGO HEIGHTS 13 11 18.2%55,000
48,000
14.6% EVERGREEN PARK 17 19 -10.5%120,000
94,000
27.7% FLOSSMOOR 13 11 18.2%234,000
165,000
213,000
310,000
-31.3% HOMEWOOD 20 15 33.3%85,000
100,000
-15% MOKENA 19 16 18.8%299,000
235,000
27.2% NEW LENOX 21 19 10.5%255,000
254,000
0.4% OAK FOREST 22 9 144.4%161,500
175,000
158,500
164,450
-3.6% ORLAND PARK 34 21 61.9%274,950
245,000
12.2% PALOS HEIGHTS 7 11 -36.4%305,000
202,500
50.6% PALOS HILLS 6 4 50%198,000
170,000
16.5% PALOS PARK 7 0 --375,000
0 -- TINLEY PARK 28 19 47.4%199,500
176,300
13.2%Source: Mainstreet Organization of Realtors
Sign up for Orland Park Patch breaking news alerts.
Like us on Facebook and follow us on Twitter.
Looking for more real estate stories?
- Sold! The 5 Priciest Southland Homes
- Sold! Local Home Sales: Nov. 22 Edition
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
