Study: Romeoville Home Prices Fell More Than 3 Percent in 2010

Single-family home prices fell last year in most Chicago-area towns, and Romeoville was no different. The village’s 60446 ZIP code saw a decline in prices that was right in line with many other communities in Will County.

Still, compared to some of the more drastic drops of 5 percent or more seen in some communities, Romeoville is faring relatively well.

According to Crain's Chicago Business, 238 of 252 Chicago-area ZIP codes tracked by Fiserv Inc. saw their home prices fall in 2010, with the overall drop being about 5.2 percent. Romeoville’s home prices fell 3.3 percent.

See below for a chart of the sales price drops for area Patch towns and others nearby.

In a video covering the prices drops, a Crain's reporter said the biggest declines were in the city's southside neighborhoods. South suburban Harvey suffered the biggest drop, 19.6 percent. Palos Hills had a 6.5 percent drop. Evergreen Park saw a 9.6 percent drop. 

In contrast, Downers Grove saw a 0.9 percent drop in the 60515 ZIP code and 2.4 percent in the 60516 ZIP code. Lisle had a 2 percent drop in the 60532 ZIP code. Darien saw a drop of 2.7 percent in the 60561 ZIP code. 

Nearby Bolingbrook saw prices fall 2.7 percent in the 60440 ZIP code and 4.4 percent in the 60490 area.

Plainfield’s three ZIP codes had drops of 5 percent, 4.5 percent and 3.2 percent, respectively.

West suburban Clarendon Hills had the largest increase in home prices, at 3.6 percent. 

The future should be brighter. According to Crain's, Fiserv predicts a fractional decrease in sale prices this year and an average 3.4 percent increase in 2012.