Collar Counties Lead January Home Sales Surge in Metro Chicago Real Estate Market, RE/MAX Reports
Summary
The northern Illinois network is part of RE/MAX LLC, a global real estate organization with 89,000 sales associates in 87 nations.Yet even as sales activity rose once again, home prices generally continued to seek lower levels.The median price of all homes sold in the metro area in January was $140,000, down 11.4 percent from the median sales price in January of last year.“The fact that we are starting the year with a lower inventory of unsold homes than we had a year ago is a positive indicator that the market is stabilizing and moving forward,” said Laura Ortoleva, a spokesperson for the RE/MAX Northern Illinois real estate network.Detached HomesSales of single-family detached homes were 12 percent higher last month than in January 2011 in the seven-county metro market, with 2,845 units changing hands.In the City of Chicago, the number of detached homes sold was essentially unchanged.While the median sales price for detached homes fell in six of the seven counties, DuPage County registered a 1 percent increase with a median price of $237,450, which was also the highest in the metro area.In Chicago, attached sales rose 6 percent.RE/MAX has been the leader in the northern Illinois real estate market since 1989.