The Changing West/Southwest Suburban Chicago Real Estate Market
spring of 2012 brings some relief to beleagured homeowners in DuPage, Kane, Kendall and Will counties...
The Four counties median sales price in April 2011 was $162,000, in April 2012 the median sales price was $171,500 a change (up!) of 5.9%.
As you can see by the graph below… Active listings (inventory) are down 24.3%, Properties that have contracts on them are up 56.6% and closed sales were up 21%… May looks promising, but June will be the telling month as that is typically the biggest closing month of the year. With interest rates at an all time low, I’m expecting more good news.
Expect to see more foreclosures coming on the market as the shadow market starts to see the light of day.
DuPage County is home to Aurora, Downers Grove, Glen Ellyn, Naperville, Warrenville, Wheaton and many other wonderful towns. Aurora, Batavia, Geneva, North Aurora and St Charles are located in Kane County. Oswego is in Kendall County (so is a part of Aurora) and Will County is where Bolingbrook, Naperville (south of 87th street) and Plainfield are located.
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