Woodridge Home Prices Drop, But Less Than Average

Single-family home prices fell last year in most Chicago-area communities, including Woodridge.

But home prices in Woodridge and its surrounding towns dropped less than average and fared better than most other suburbs. 

According to Crain's Chicago Business, 238 of 252 Chicago-area zip codes tracked by Fiserv Inc. saw their home prices fall in 2010, with the overall drop being about 5.2 percent. Woodridge's home prices fell 1.5 percent in the 60517 zip code.

See below for a chart of the sales price drops for area Patch towns and others nearby.

In a video covering the price drops, a Crain's reporter said the biggest declines were in the city's southside neighborhoods. South suburban Harvey suffered the biggest drop, 19.6 percent. Palos Hills had a 6.5 percent drop and Evergreen Park saw a 9.6 percent decrease. 

In contrast, Downers Grove saw a 0.9 percent drop in the 60515 zip code and 2.4 percent in the 60516 zip code. Lisle had a 2 percent drop in the 60532 zip code and Darien saw a drop of 2.7 percent in the 60561 zip code. 

Naperville had drops of 2.4, 2.8, 3.1 and 4.7 percent in the 60564, 60540 and 60565 and 60563 zip codes, respectively. 

Only three towns in suburban Cook showed an increase in home prices. Park Forest showed the largest gain in home prices at 1.5 percent, followed by Buffalo Grove (1.3 percent) and Western Springs (.30 percent).

West suburban Clarendon Hills had the largest increase, at 3.6 percent. 

The future should be brighter. According to Crain's, Fiserv predicts a fractional decrease in sale prices this year and an average 3.4 percent increase in 2012.