Matteson, (pronounced Mat-te-son) Illinois located 30 minutes from downtown Chicago covers a 12 square mile area, with a population according to the last census data of 16,579. Nestled between Tinley Park and Olympia Fields, Matteson enjoys easy access to I-57,I-90/94,I-80 and I-294. Residents can rely on Metra trains and Pace buses for transportation around town and commuting to Chicago. The Village offers five public,private and parochial school options to the residents. Situated near Prairie State College and Governor's State University, 26% of the residents have earned a Bachelor's degree or better. Matteson has the largest Auto Mall in the nation. Boasting a shopping mall, 5 banks and/or savings and loan institutions, a library, a health club, more than 10 churches, a living/ home facility, and 30 or more restaurants according to the Village of Matteson Statistics.
The average household income is $75,000. Average Cost of a home before the economy collapsed was $264,000 according to Realty Trac. 67% of the homes range from $170,000 to $339,000. Today the average home price has dropped to 129,591, largely due to the influx of foreclosures contributing to declining prices. Currently there are 474 homeowners in default of their loans. This has made Matteson an investor haven, many investors find the Village easy to work with and have snapped up bank owned properties and pre-foreclosures.
Current overall market activity shows 129 Active Listings ranging from $45,950 to $485,000. There are 43 Pending contracts ranging in price from $6,930 to $399,000. 19 homes were closed in the month of December ranging in price from $38,500 to $299,000.
Today if you are looking for a bargin, this is the time to buy while prices are low. When prices start to increase once the economy starts swinging upwards, Matteson will be a great place to watch value increase. New businesses are coming to Matteson everyday, giving a lift to the future vision. Next week we will break Matteson down by neighborhoods.
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