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Oswego Sees Home Sales Increase in 2012: November Home Sales

35 detached, single-family homes were sold in Nov. 2012 in Oswego.

The 35 detached, single-family homes sold in Oswego during November represented a 25 percent increase over November 2011, according to the Mainstreet Organization of Realtors (MORe).

There were 42 homes sold in Oswego during October.

However, the median price of homes sold in November ($210,000) was 10.1 percent lower than the median price of homes sold in October 2011 ($233,475). 

The market for detached, single-family homes in suburbs throughout Will and Kendall counties saw growth in November, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Plainfield saw the largest percent increase, with 73.6 percent more homes sold year over year in November. There were 53 homes sold that month in 2011 and 92 in 2012.

Channahon saw the largest percent drop, with 75 percent fewer homes sold year over year in November. It's worth noting, however, the small sample size: Three homes were sold in November 2012 compared to four sold in November 2011.

Overall across the Chicago suburbs, sales of single-family detached homes rose 35.6 percent in November over the same month in 2011, according to MORe. 

MORe predicts December will be another month of local housing market growth, as the number of detached homes under contract in November 2012 was 54 percent higher than in November 2011. 

“We are on pace to finish strong in 2012,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “It is a great time to be in the market, especially in the Chicago area. Every day we see signs that conditions are continuing to improve to the benefit of both buyers and sellers.”

# of homes sold Median price Town 2012 2011 % change 2012 2011 % change BOLINGBROOK 59 48 22.9%

170,000

151,500

12.2% CHANNAHON 3 4 -25%

250,000

99,800

150.5% JOLIET 103 69 49.3%

112,000

85,000

31.8% MINOOKA 12 8 50%

155,950

116,750

33.6% MONTGOMERY 27 19 42.1%

134,000

135,000

-0.7% OSWEGO 35 28 25%

210,000

233,475

-10.1% PLAINFIELD 92 53 73.6%

186,950

179,000

4.4% ROMEOVILLE 28 23 21.7%

143,000

129,900

10.1% SHOREWOOD 13 11 18.2%

232,000

268,000

-13.4% YORKVILLE 28 21 36.3%

228,000

205,000 11.2%

Source: Mainstreet Organization of Realtors

mike ellison December 21, 2012 at 11:49 PM
Only the various Realtor organizations would see a 10.1% decrease in values as an improvement. Worse yet, there are fewer foreclosures on the market, so the median value should naturally increase as those lower priced properties are no longer included in the calculations. So if you have a decrease in the median sales price at a time when there should be an increase then things are worse than most would believe.

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