Community Corner
Home Prices Slowly Inch Up in Niles, Morton Grove
While home prices appear to be on the rise in Niles and Morton Grove, several other suburbs throughout the Chicago area continue to see prices hold steady or continue to drop, according to Crain's Chicago Business.
Written by Editor Amie Schaenzer
The housing market appears to slowly be rebounding in Niles and Morton Grove as home prices begin to inch up, according to a Crain's interactive map on area housing prices.
The one-year change in prices for Niles homes is up 3.3 percent, while in Morton Grove, prices are up 2.5 percent, according to Crain's. Still, the five year change in prices is at a deficit. In Niles, the cost of a home is on average 30 percent less today than it was five years ago, according to Crain's interactive map. Morton Grove's numbers aren't much better, with a five year change of 28.1 percent.
The Chicago suburb that saw the biggest increase is Austin — located just west of the city — which saw a 16.6 percent change over the past year in home prices while Palos Park saw the largest decrease in home prices at -6.2 percent, according to a different Crain's graphic.
Check out Crain's interactive map to see how other area suburbs compare and to learn more about home prices throughout the area.
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