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October 2012 House Sales Lower than a Year Ago

When comparing October 2011 to October 2012, the decline was 18 percent.

House sales in Romeoville dropped by 18 percent percent when comparing the October 2012 numbers to those tallied in October 2011.

According to statistics provided by the Mainstreet Organization of Realtors, there were 27 homes sold in the village last month compared to 33 in October 2011.

However, there was a little good news. The median price went up by 2.5 percent, $122,000 to $125,000.

Interestingly, the number of homes sold both month and last were exactly the same at 27, statistics show. 

The market for detached, single-family homes in suburbs throughout Kendall and Will counties saw growth in October, according to the Mainstreet Organization of Realtors (MORe). MORe gets its statistics from Midwest Real Estate Data.

Shorewood experienced the most dramatic percent change in the number of homes sold, with an uptick of 175 percent in October 2012 over October 2011. The number of actual homes sold this October was 11, compared to the four sold during the same period last year.

When looking at the numbers for Will and Kendall counties, Romeoville saw the largest percent drop, with 18.2 percent fewer homes sold year over year in October.

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 BOLINGBROOK 67 52 28.9%

150,000

179,950

16.6% CHANNAHON 11 10 10%

168,000

190,000

-11.6% JOLIET 91 98 -7.1%

104,000

105,000

-1% MINOOKA 9 6 50%

160,000

103,950

53.9% MONTGOMERY 39 20 95%

155,000

154,000

0.7% OSWEGO 42 31 35.5%

212,610

219,290

-3.1% PLAINFIELD 98 74 21.3%

174,950

199,500

-12.3% ROMEOVILLE 27 33 -18.2%

125,000

122,000

2.5% SHOREWOOD 11 4 175%

185,000

196,500

-3.9% YORKVILLE 17 18 -5.6%

240,000

185,813 22.1%

Source: Mainstreet Organization of Realtors

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