Lemont Real Estate Takes the Lead
For years I've been touting Palos Park real estate as the highest priced area of the southwest suburbs of Chicago. As I was writing a post about Palos Park, I happened to double check our most recent 2010 real estate sales statistics and to my surprise Palos Park was not the most expensive village in the sw 'burbs in 2010!
To make sure I hadn't made the wrong statements in years prior, I went back to 2005 to view the stats. The chart below tells the story of Lemont homes vs. Palos Park homes since 2005:
| Year | Lemont | Palos Park |
| 2010 | $394,873 | $380,888 |
| 2009 | $379,868 | $481,283 |
| 2008 | $423,124 | $543,485 |
| 2007 | $453,909 | $642,041 |
| 2006 | $521,376 | $603,015 |
| 2005 | $445,175 | $550,331 |
I find these price changes over the years quite interesting. Palos Park has truly fallen recently from it's highest priced throne and Lemont is now the priciest village in the area.
Lemont real estate saw its peak in 2006, and it's been downhill since then. However, 2010 saw an uptick of 3.9% from 2009. It is still down a bit less than 25% from its highest priced year.
In comparison, Palos Park has held its top spot every year except 2010. Palos Park real estate peaked in 2007 at a whopping $642,041 average selling price. At an average of $380,888 in 2010, prices have dropped more than 40% for Palos Park single family homes from its best year pricewise.
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