Home sales in region slows
DOWNERS GROVE - The suburban housing market experienced a slight slowdown in sales in September, according to data information provided by Midwest Real Estate Data LLC to Mainstreet Organization of Realtors.
The number of single-family homes sold in September in about 200 communities in DuPage, Lake and suburban Cook counties was down 1.3 percent to 3,291 homes sold, compared to September 2015. But sales prices continue to climb. Despite the uncertainty that may be caused by the election, many of the communities still saw an increase in the number of houses sold compared to this time last year.
Communities that recorded notable growth in the number of houses sold last month include Buffalo Grove (26.5 percent), Downers Grove (26.5 percent), Hoffman Estates (15.2 percent), Mundelein (31.4 percent), Oswego (52.5 percent) and Orland Park (75.9 percent). Other key market statistics for September show prices increasing along with the demand for inventory.
The median sale price was up 6.4 percent to $235,050, and the average year-to-date sale price was $284,218, up by 4.4 percent from this same time last year. Market times for homes dropped again, down 4.3 percent to 89 days.