Real Estate
Homewood Up, Flossmoor Down in Home Sales from a Year Ago
December saw an increase in the number of Homewood homes sold compared to December 2011. Flossmoor went the other direction.
The 15 detached, single-family homes sold during December in Homewood outpaced the ten homes sold in December 2011, according to the Mainstreet Organization of Realtors (MORe). Flossmoor's six sales, on the other hand, is half that of last year's—the largest percentage drop in the South Suburbs.
However, the median price of Homewood homes sold in December ($122,839) was 24.6 percent lower than the median price of homes sold in December 2011 ($162,835). At a median price of $226,316, Flossmoor saw a 2.8 percent drop in median value compared to December 2011 ($232,866).
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.
Find out what's happening in Homewood-Flossmoorfor free with the latest updates from Patch.
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.
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.
Find out what's happening in Homewood-Flossmoorfor free with the latest updates from Patch.
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.”
34,500
20,500
122,750
80,000
53.4% FLOSSMOOR 6 12 -50%233,950
210,500
11.1% FRANKFORT 28 17 64.7%330,000
335,000
-1.5% HOMEWOOD 15 10 50%90,000
154,175
-41.6% MOKENA 13 7 85.7%279,000
385,000
250,000
244,368
2.3% OAK FOREST 18 15 20%147,500
149,900
-1.6% OAK LAWN 36 26 38.5%161,250
166,500
-3.2% ORLAND PARK 25 19 31.6%253,500
275,000
-7.8% PALOS HEIGHTS 8 7 14.3%175,000
220,000
207,000
210,000
-1.4% PALOS PARK 9 5 80%403,000
410,000 -1.7% TINLEY PARK 22 18 22.2%200,599
186,500
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