Oswego Housing Market Sees Growth: October Home Sales

Oswego home sales went up more than 35 percent in October 2012 from the number of sales in October 2011, according to the Mainstreet Organization of Realtors.

The 42 Oswego homes sold in the month of October represented a 35.5 percent increase from October 2011. The homes sold for a median price of $212,610, down from $219,290 in October 2011. 

Oswego home sales in October were also up from September, when 38 homes were sold. 

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.

Romeoville saw the largest percent drop, with 18.2 percent fewer homes sold year over year in October. That shakes out to 27 homes sold in October 2012 compared to 33 sold in October 2011.

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%



16.6% CHANNAHON 11 10 10%



-11.6% JOLIET 91 98 -7.1%



-1% MINOOKA 9 6 50%



53.9% MONTGOMERY 39 20 95%



0.7% OSWEGO 42 31 35.5%



-3.1% PLAINFIELD 98 74 21.3%



-12.3% ROMEOVILLE 27 33 -18.2%



2.5% SHOREWOOD 11 4 175%



-3.9% YORKVILLE 17 18 -5.6%


185,813 22.1%

Source: Mainstreet Organization of Realtors

Mike Francis November 21, 2012 at 07:11 PM
The Realtor's association is a joke. They'll take whatever statistic happens to be favorable that month and emphasize it over all of the others. They'll change the stastics they use to suit their needs. This month they've chosen to concentrate on the "number of sales" despite the fact that the median value went down 3.1%. Let's see what metrics they choose to emphasize next month. It will only be the same if it shows the market improving. What's interesting about the 3.1% decline is that it's worse than it appears. There are fewer foreclosures being sold and those obviously sell at generally lower prices. So the lesser amount of lower priced sales should raise the median value even if there is no overall market appreciation. With this offsetting factor it takes a pretty poor market to still show a decline.


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