Business & Tech
More Homes Sold in August But at Lower Prices
More homes were sold in Downers Grove and Woodridge in August 2011 than August 2010, but median prices dropped as much as 29 percent.
Downers Grove and Woodridge saw an increase in home sales in August 2011 compared with August 2010, but those homes sold for less.
Home sales across the west and south Chicago suburbs rose 27 percent in August from August 2010. It's the second month of major gains in home sales, according to the Mainstreet Organization of REALTORS.®.
Woodridge and Downers Grove saw an even better increase.
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Downers Grove home sales rose 69 percent, from 26 homes in August 2010 to 44 in August 2011. Woodridge homes sales rose 30 percent, from 13 homes in August 2010 to 17 in August 2011. Darien had no change.
Mario Salmon, office manager for Grove Realtors in Downers Grove, said the summer was slower than the spring.
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"May and June were pretty impressive," Salmon said.
Sales are picking up in September as well, he said. The Mainstreet Organization of REALTORS® credited the increase to an "advantageous market conditions available to buyers, including historically low interest rates."
While more homes are selling, they're selling for less. The median sale price for Downers Grove dropped 10 percent; Woodridge's dropped 29 percent.
The full statistics for Darien, Downers Grove and Woodridge below.
Town
Sold 2011
Sold 2010
Change
Darien
11
11
0%
Downers Grove
44
26
69.2%
Woodridge
17
13
30.8%
Darien
Average sale price 2011
Average sale price 2010
Change
287,950
370,227
-22.2%
Median sale price 2011
Median sale price 2010
Change
275,000
298,000
-7.7%
Downers Grove
Average sale price 2011
Average sale price 2010
Change
377,875
406,400
-7%
Median sale price 2011
Median sale price 2010
Change
334,250
274,000
-10.6%
Woodridge
Average sale price 2011
Average sale price 2010
Change
309,029
352,007
-12.2%
Median sale price 2011
Median sale price 2010
Change
245,000
345,000
-29%
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