Business

Home sales prices declines, but prices rose in October

Posted November 21, 2019 12:00 am

DOWNERS GROVE - The median sales price of detached Chicago region homes rose 6.5 percent in October 2019 compared to October 2018, according to statistics released today by the Mainstreet Organization of Realtors.

During the same period, the total number of detached homes sold dipped by 2.3 percent. Despite the sales decrease, both September and October data showed a strong increase in the number of homes going under contract. Based on the October sales data, many of the sales of the homes that went under contract in September have yet to be finalized.

"We still expect to see an uptick in sales based on all the homes that have been going under contract this fall," MORe board of directors President Brian Kwilosz said. "However, we're seeing homes in our area take longer to go from contract to closing."

The communities that saw notable increases in detached home sales price include Aurora (21 percent increase in sales price); Blue Island (29.1%); Dolton (10.3%); Franklin Park (16.2%); Glen Ellyn (28.7%); Matteson (11.3%); Maywood (23.8%); Montgomery (22.1%); Mundelein (15.8%); Orland Park (16.9%); Oswego (11.2%); Park City-Waukegan (10.7%); Schaumburg (22.4%); West Chicago (31.9%) and Zion (14.7%).

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