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        <title>Chicago Suburb Real Estate &amp; Area Guide</title>
        <link>http://www.cook-county-real-estate.net/blog/sales-statistics/</link>
        <description>New real estate listings, entertainment, recreation, news and things to do in Chicago and surrounding suburbs.</description>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/homer-glen-real-estate-2011-sales-statistics.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/homer-glen-real-estate-2011-sales-statistics.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Homer Glen Real Estate 2011 Sales Statistics</title>
            <description> <![CDATA[ 
The table below shows the difference between the sale of Homer Glen homes in 2011 vs. 2010.






# of Homes Sold


% Change


Average  Sale Price


% Change










2011


2010


 


2011


2010


 




139


128


8.6%


$317,170


$336,531


-5.8%






Like many surrounding suburbs, the amount of sales went up in 2011 compared to 2010.  There was an 8.6% increase in single family Homer Glen homes sold.


Like many other towns Homer Glen showed a 5.8% decrease in average sales price.  Some areas are showing double digit decreases so it could be worse, but prices are still dropping.


This means that if you're a buying in Homer Glen this is a great time to make that purchase with current low interest rates and low prices.  No one knows when we'll reach bottom, but I am super busy with buyers right now and if buyers continue purchasing at this pace prices will stabilize at some point.  A nearby town, Palos Park, showed a price increase so it is happening already in some villages.


Click the link to see updated Homer Glen real estate sales statistics from 2005 to the present for both detached and attached properties.


Call Judy Orr or James Herter at 708-536-8200 if you're ready to start looking at properties in Homer Glen or any other southwest suburb.
 ]]> </description>
            <pubDate>Thu, 16 Feb 2012 10:41:45 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/orland-park-homes-year-end-sales-statistics-2011.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/orland-park-homes-year-end-sales-statistics-2011.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Orland Park Homes Year End Sales Statistics 2011</title>
            <description> <![CDATA[ 
I've been eagerly awaiting the sales stats for 2011 for Orland Park homes and surrounding areas, and they're finally out.  I've posted quarterly and semi-annual stats and now we have the whole story. 






# of Properties Sold



% Change



Average  Sale Price



% Change











2011



2010







2011



2010









282



266



6%



$318,088



$357,690



-11.1%







I was thinking we'd have a higher percentage of properties sold last year compared to 2010.  A 6% increase is better than nothing or a decrease, but I thought it would be better.


The bad news is a double digit decrease in prices.  Orland Park seemed to be holding price better than many other villages, but look at those average sales prices, comparing both years.  Will 2012 be better?  Only a year from now will tell!


This is the first double digit price decrease for Orland Park homes since I started posting statistics.  If you'd like to see different sales stats from 2005, click on Orland Park Real Estate Sales Statistics.  If you're thinking of buying and/or selling a home in Orland Park or surrounding areas, give Judy Orr a call at 708-536-8200 or Contact Me.
 ]]> </description>
            <pubDate>Fri, 20 Jan 2012 11:16:32 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/3rd-quarter-2011-sales-stats-for-homer-glen-homes.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/3rd-quarter-2011-sales-stats-for-homer-glen-homes.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>3rd Quarter 2011 Sales Stats for Homer Glen Homes</title>
            <description> <![CDATA[ 
Following are sales statistics for Homer Glen homes for the third quarter of 2011







# of Properties Sold



% Change



Average  Sale Price



% Change











2011



2010







2011



2010









39



23



69.6 %



$292,333



$314,063



-6.9%







It is nice to see that there is a huge 69.6% increase in the amount of Homer Glen homes sold.  Many more buyers came out this year vs. last year.  Sales suffered last year after the Home Buyer's Tax Credit ended in April, when home sales tanked.  There was a rush to get in on the credit, and when it expired things went downhill, bringing prices with them.


Prices are still on a downward spiral but the percentage is at least in the single digits, unlike some other southwest suburbs.  For the first time in a while I have a positive outlook on 2012 - I just hope I'm right! 
 ]]> </description>
            <pubDate>Wed, 09 Nov 2011 15:41:46 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/6-month-activity-for-homer-glen-lemont-orland-park-and-surrounding-suburbs.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/6-month-activity-for-homer-glen-lemont-orland-park-and-surrounding-suburbs.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>6 Month Activity for Homer Glen, Lemont, Orland Park and Surrounding Suburbs</title>
            <description> <![CDATA[ 
I recently shared 1st half of 2011 sales activity for only 4 neighboring towns and decided to add more towns in my  service area.  The table below will show sales activity for the 1st half of 2011 for single family Homer Glen homes, Lemont, Lockport, Mokena, New Lenox, Orland Hills, Orland Park and Palos Park.  






# of Houses Sold  


Average Sale Price










Town


Sold YRD


Sold YRD


YOY


Avg Price


Avg Price


YOY




 


 2011


 2010


 % Chg


 2011


 2010


 % Chg




Homer Glen


 68


 81


 -16.1%


 $321,950


 $334,765


 -3.8%




Lemont


55


58


-5.2%


$383,940


$368,418


4.2%




Lockport


86


134


-35.8%


$176,621


$202,241


-12.7%




Mokena


58


55


5.5%


$305,268


$334,138


-8.6%




New Lenox


87


96


-9.4%


$241,805


$264,404


-8.6%




Orland Hills


16


25


-36%


$178,078


$196,206


-9.2%




Orland Park


126


151


-16.6%


$317,157


$345,934


-8.3%




Palos Park


17


27


-37%


$320,558


$369,345


-13.2%






As you can see from the above chart, Lockport, Orland Hills and Palos Park took more than a 30% downtown in the amount of homes sold for the first half of 2011 compared to 2010.  Lemont homes were the only real estate that actually appreciated in value.  Home values should be more important to a home owner than amount of homes sold, although that also shows us supply and demand, and there is too much inventory vs. qualified buyers.


If you have a home to sell in any of the above towns please give the team of Judy Orr and Jimmy Herter a call at 708-536-8200.  We have an unsurpassed marketing plan and would love to share it with you.
 ]]> </description>
            <pubDate>Tue, 18 Oct 2011 16:03:37 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/6-month-activity-for-homer-glen-lemont-orland-park-and-palos-park.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/6-month-activity-for-homer-glen-lemont-orland-park-and-palos-park.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>6 Month Activity for Homer Glen, Lemont, Orland Park and Palos Park</title>
            <description> <![CDATA[ 
The chart below will show market activity for single family homes for Homer Glen, Lemont, Orland Park and Palos Park for the first half of 2011.






Village


# of Sales 2011


# of Sales 2010


% Change


 Avg. Price 2011


Avg. Price 2010 


% Change




Homer Glen


68


81


-16.1% 


 $321,950


$334,765 


 -3.8%




Lemont


55


58


 -5.2%


 $383,940


 $368,416


 4.2%




Orland Park


126


151


 -8.3%


 $317,157


 $345,934


-8.3%




Palos Park


17


27


 -37%


 $320,558


 $369,345


 -13.2%






Every town has shown a decrease in homes sold.  Palos Park has been hit the hardest with a large 37% decrease in the sale of Palos Park homes.


Palos Park showed the only double digit price decrease of these four villages at 13.2%.  The only suburb in the list that showed a price increase was Lemont homes.  Lemont has held its title as being the most expensive southwest Chicago suburb, once again beating Palos Park.  In fact, Homer Glen homes were priced higher than Palos Park, which I find fascinating.  Palos Park has been the priciest southwest suburb since I can remember, and now it stands at #3.  Orland Park is a close 4th place pricewise.


You will also notice that in 2010 Homer Glen was the lowest priced suburb of the four, and has now risen to 2nd place.  I'm not treating this as a popularity contest and these changes are of much interest to me, especially since the move I made last year to the Homer Glen/Orland Park area, which makes these areas my new home base.


If you're interested in buying and/or selling in any of these suburbs, or any other suburbs that are close to these villages, give Judy Orr and Jimmy Herter a call at 708-536-8200.
 ]]> </description>
            <pubDate>Sat, 01 Oct 2011 18:22:11 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/orland-park-homes-sold-1st-quarter-2011.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/orland-park-homes-sold-1st-quarter-2011.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Orland Park Homes Sold 1st Quarter 2011</title>
            <description> <![CDATA[ 
For the past two years, I have been more interested in sales statistics than ever before.  I'm interested in seeing the trend of sales and prices.  We hear and read statistics on the news and Internet, but real estate is local.


Following are sales statistics for Orland Park homes for the first quarter of 2011






# of Properties Sold


% Change


Average  Sale Price


% Change










2011


2010





2011


2010







64


49


30.6%


$335,876


$352,742


-4.8%






 


The good news is we have seen a hefty increase in the amount of Orland Park homes sold.  Prices are still declining, but at least they are in single digits.


If you are interested in Orland Park homes for sale feel free to search the Orland Park MLS.  You can use your personal search parameters such as price, number of bedrooms and baths and more.  You can even search multiple towns in one search.  Or call Judy Orr at 708-536-8200 or contact her and she can set you up for an automated e-mail search.
 ]]> </description>
            <pubDate>Sun, 22 May 2011 18:15:46 -0500</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/lemont-is-now-the-highest-priced-southwest-chicago-suburb.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/lemont-is-now-the-highest-priced-southwest-chicago-suburb.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Lemont is Now the Highest Priced Southwest Chicago Suburb</title>
            <description> <![CDATA[ 
I was writing an article on another one of my blogs about Palos Park real estate and how it is the priciest southwest suburb when I viewed the latest sales stats from 2010.  Palos Park is no longer the highest priced village in the area, a title it has held for many, many years.  The new town with a high price tag is now Lemont, IL, with an average sale price in 2010 of $394,873 vs. Palos Park's average home price at $380,888.


I've always loved both villages but am surprised at this change.  Is Palos Park losing its luster?  Has Lemont truly won a popularity contest?  Why?  


Both Palos Park and Lemont have new construction occuring, so it's not that you can't find new construction in Palos Park, and that's usually where some of the high prices come from.  Were most of the sales in 2010 distressed in Palos Park compared to Lemont?  


I haven't dug deep enough (and don't think I will), but I will be interested in next year's statistics to see if Palos Park continues its downward trend.  The price for Lemont homes actually increased by a small percentage, which is great in this market.


If you're interested in Palos Park or Lemont homes for sale, click on the above links and you'll find the contact information you need, plus a link to a customized MLS search for each town.  Or call Judy Orr at 708-536-8200.
 ]]> </description>
            <pubDate>Thu, 13 Jan 2011 11:27:14 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/orland-park-real-estate-sales-statistics-2005-2009.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/orland-park-real-estate-sales-statistics-2005-2009.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Orland Park Real Estate Sales Statistics - 2005-2009</title>
            <description> <![CDATA[ 
 


As popular a village as Orland Park is, the current economy has hit this lively southwest suburb the same as most others.  Prices continue to decline and that started in 2007 for single family Orland Park homes.  Orland Park condos and townhomes have shown a decline since the first year I have data for, which is 2006.


There is a bit of positive news.  There was a 2.2% increase in the amount of Orland Park homes for sale and a much larger increase of 21% for Orland Park townhomes and condos sold.  


Orland Park is one of the highest priced towns in the southwest suburbs I work in with an average sales price of $345,465 in 2009 for single family Orland Park homes.  The highest price posted in the data I have was an average of $422,090 in 2006.  


The average sales price for Orland Park condos and townhomes in 2009 was $194,820.  The highest price I am seeing was an average of $231,573 in 2005.


Many sellers cannot accept this reality and their homes sit on the market for a very long time, sometimes years.  This is factual data taken from The Mainstreet Association of REALTORS and the Northern IL MLS service.


To view the data from 2005-2009 click Orland Park Real Estate Sales Statistics. 


If you're looking for any kind of residential Orland Park real estate give Judy Orr a call at 708-536-8200.  Classic Realty Group's main office is located in Orland Park.  Feel free to contact me or do an Orland Park MLS search. 
 ]]> </description>
            <pubDate>Tue, 16 Feb 2010 12:22:13 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/oak-lawn-real-estate-sales-statistics-2008-2009.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/oak-lawn-real-estate-sales-statistics-2008-2009.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Oak Lawn Real Estate Sales Statistics 2008-2009</title>
            <description> <![CDATA[ 
It's statistics time to see how different southwest suburbs have fared over these tumultuous years.  The first chart is for Oak Lawn homes for sale and the second chart is for all attached Oak Lawn properties.


Detached Oak Lawn Homes Sales Statistics 2008-2009








Number of Homes Sold






Average Sale Price












 2009


 2008


% Change            


 2009


2008           


% Change            




 313


 268


 16.8%


 $196,518


 $237,064




 -17.1%








As you can see, the number of Oak Lawn homes sold has increased and has the highest amount of homes sold comparing the 3 top southwest suburbs reflecting most homes sold (Oak Lawn, Orland Park and Tinley Park).  That's the good news, but as you can see, prices have dropped 17.1%.  Ouch!  Average prices of Oak Lawn homes is back in the $100,000 range, high $100's, but no longer in the $200's as has been experienced for many years.  These are simply the facts and many sellers will be discouraged by this, although buyers will rejoice.


 Oak Lawn Condos and Townhomes Sales Statistics 2008-2009


The MLS compiles data combining any attached property such as Oak Lawn condos, townhomes or duplexes.








Number of Attached Properties Sold






Average Sale Price












 2009


 2008


% Change            


 2009


2008           


% Change            




 143


 175


 -18.3%


 $113,013


 $142,005




 -20.4%








As expected, we are seeing drops in units sold and prices for all Oak Lawn condos and townhomes.  And they are double digit decreases.  There have been price decreases since 2007.  When will it stop?  Have we hit bottom?  I cannot tell you that since I do not have a crystal ball.


With expectations of higher interest rates, prices might have to continue to drop in order to get properties sold.  It is my belief that the price boom we experienced was not able to sustain itself.  Prices were increasing disproportionately to earnings.  The market continues to correct itself.


If you're in the market to buy or sell an Oak Lawn property or any other southwest suburb, please fill out the Automated Home Finder Form and/or Internet Market Value Form.  
 ]]> </description>
            <pubDate>Thu, 21 Jan 2010 13:10:34 -0600</pubDate>
                    </item>
        <item>
            <guid>http://www.cook-county-real-estate.net/blog/orland-park-real-estate.html</guid>
            <link>http://www.cook-county-real-estate.net/blog/orland-park-real-estate.html</link>
            <author>judyorr@gmail.com (Judy Orr)</author>
            <title>Orland Park Real Estate</title>
            <description> <![CDATA[ 
 


In preparing a Comparative Market Analysis for an Orland Park home for sale, I wanted to see how Orland Park is faring in today's declining market.  The easiest way to check this out is to collect the data created for us by our local real estate board.  


The data shows us the following, which is based on what has happened during the first half of 2009 vs. 2008:


Amount of homes sold:  2008 = 124               2009 = 118  - showing a decrease of 4.8% of total sales of single family homes


Median Sale Price:        2008 = $325,000       2009 = $294,500 - showing a decrease of 9.4% in the median price


How does this affect sellers?


I'm reading more and more about properties not appraising.  There are different reasons for this, some are as follows:




The house is simply priced too high for today's market, but something about it made a buyer interested enough to make an offer that was accepted by both parties.


Because of the new appraisal rules (HVCC), an appraiser was sent out that is not familiar with the area - this seems to be happening a lot since the new rules went into effect.


There are little to no comparables in the immediate area and the home was difficult to appraise to sustain the contract price.


The only area activity is foreclosure and short sales, bringing the value of the area as a whole down.


The appraiser is taking a percentage off the final appraised price to reflect a declining market.  In the case of a 12% annual decline rate, for example, if a home appraised at $300,000, 1% would be deducted to reflect the declining market.  That would bring the final appraised value down to $297,000.  In the above scenario, I'm not 100% sure if only 1% is deducted to reflect a month's worth of decline or if a higher amount would be used.




Sellers can no longer "test the market"


OK, technically, they can.  If they find an agent that will do this for them (or as we say in the business, an agent who "buys the listing" by taking it at an inflated price, thus making the seller very happy - at that point in time at least) then they can list at whatever price they want to.  However, in today's market that will definitely mean a listing that does not sell.


For the agents that take these high priced listings, they have to face the wrath of a seller that is receiving few, if any showings.  Without showings, there are no offers. 


A listing might not sell at market value


In a declining market, there is no guarantee that a home will sell even if it is listed at market value.  With a declining market, today's market value is based on homes that have already sold and closed.  As prices continue to decline, those prices become stale (and high) quickly.


Other sellers that have been on the market and are motivated are becoming pro-active and reducing prices to spur activity.  Even the best agents and very motivated sellers can "chase the market", trying to find the correct price that will bring in more buyers and offers.


The question I always get asked


Many sellers don't want to list at market value.  They want to pad the price, knowing few buyers will offer full price, especially during our current recession.  They accept the market value, but they now want to add $5,000 or more to that value.  And that might be the difference between getting showings and offers or not.


Remember the competition


There are other sellers out there - many others!  Some are not so motivated and will stubbornly keep their inflated prices and blame their agents for the lack of activity.  Some of those sellers will go through many different agents until something happens in their lives that finally motivates them (they find a home they want to buy or something else happens to make them much more eager to sell).  Then they listen to their last agent and finally price their home properly.  It's almost a bad thing to be the first agent to take a listing in today's market.


Orland Park real estate isn't suffering a steep downward trend as some other towns.  There is a town I work in that has a price decrease of more than 56% for the first half of 2009 compared to 2008.  That's debilitating for anyone that has to sell in that town.  Many towns have seen a decrease of 20% or more.  Only a few have seen very small declines.


When will prices stabilize?


I don't think anyone has the answer to that.  I've heard the end of this year (I don't believe that one), next year (we'll see) and others say 5-10 years.  Many feel that once the decline stops, prices will remain stagnant for a period of time before rising again.  I wish I knew what the future will bring.  


It's making our job as REALTORS very difficult.  Even appraisers are having a hard time.  I actually had an appraiser call me, sounding exasperated, asking me what I felt a property was worth that was located near one I had listed.  He didn't seem to have a clue!


If you really need to sell then you must list your property at the correct price if you want to have a chance.  If you don't really have to sell then it might be wise for you to wait and see how our economy unfolds.  It isn't fun having your house up for sale waiting for those showings (that may never come), and/or showing your house to many buyers without an offer.


The bottom line is, it is simple supply and demand.  There are still too many homes on the market in any given area and any price range and too few ready, willing and able buyers, especially with today's new and ever changing mortgage requirements.


If you are interested in selling, give Judy Orr a call at 708-536-8200 or use the Contact Form.  If you're a lucky buyer in today's market call Judy or fill out the Home Finder Form to get listings sent directly to your e-mail.  


    
 ]]> </description>
            <pubDate>Tue, 04 Aug 2009 11:48:11 -0500</pubDate>
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