Archive for May 2012

Average prices down, market times up in Elmhurst this year

The following market data is gleaned from the Elmhurst Real Estate Update published each month by the Gracik Makinney Group. The average sales price ($337,991) year-to-date April 2012 was 13.58% below the average price in the corresponding period last year ($391,100). The median year-to-date price through April also fell from $320,000 to $269,000, a 15.937%... Read more »

Chicago foreclosure inventory fourth-highest nationally

CoreLogic has just released its National Foreclosure Report for April (registration required). According to CoreLogic, Illinois (5.3%) ranked third among the five states with the highest foreclosure inventory as a percentage of all mortgaged homes, trailing Florida (12.0%) and New Jersey (6.7%), and ahead of New York (5.0%) and Nevada (5.0%). Chicago, at 6.3%, had... Read more »

More options at lower end of market in Clarendon Hills

When I visited Clarendon Hills just over two years ago there were very few homes available in the under $300,000 price range, and what was available – even in the low $300s – was small and not in what everyone would consider move-in condition. A quick scan of the current offerings surfaces a wider range... Read more »

Patriot Place nearing a sellout in Bolingbrook

When you turn east off of Essington Road onto Francis Scott Key Blvd or Patrick Henry Pkwy in Bolingbrook, you’re in Patriot Place. The Ryland Homes’ subdivision’s other streets are John Hancock Dr and Betsy Ross Pl. Only a few homes remain for sale at Patriot Place, and several were just listed in the MLS.... Read more »

Suburban rents at an all-time high

Chicago Real Estate Daily is reporting, based on data from Chicago-based Appraisal Research Counselors, that rents and occupancy rates showed solid quarter-over-quarter and year-over-year increases in Chicago’s suburbs. The overall data, however, includes varying performance in different sub-markets. The Naperville / Aurora market, for example, had a high 96.6% occupancy rate but was able to... Read more »

Sixteen new floor plans debut at Geneva's Mill Creek

ShoDeen Residential‘s Mill Creek in Geneva is a planned community that spans more than two square miles and includes over a square mile of open space. A variety of Kane County planners and officials give you an overview of ShoDeen’s approach to a master-planned community in the above video, which also serves up a good... Read more »

Condo-style amenities planned for new Lisle apartments

Opus Development recently issued a news release announcing plans to build a 310-unit luxury apartment complex, to be called Arboretum Landmark, in Lisle. According to the news release: Arboretum Landmark will feature condo-style amenities, including an outdoor heated swimming pool, relaxing patio area, communal gas grills, outdoor fire pit, fitness center, access to the building’s... Read more »

Chicago-area home prices stabilized, sales volume rose in April

RE/MAX Northern Illinois has just released its April market report for the Chicago metro area: April home sales activity in the metropolitan Chicago real estate market was characterized by rising sales and firmer home prices, according to an analysis by RE/MAX. Combined sales of attached and detached homes in the seven-county metro market totaled 6,771... Read more »

Downers Grove takes a beating on home purchase

Individual homeowners in Downers Grove aren’t alone in seeing the value of their homes fall over the past several years. The Village of Downers Grove has seen the value of a home it purchased fall by more than 50%. The Village purchased the home at 5237 Benton Ave for a reported $463,000 for the construction... Read more »

Chicago metro prices down, national prices up per CoreLogic

CoreLogic has released its March Home Price Index report which shows that nationally home prices, including distressed sales, declined on a year-over-year basis by 0.6 percent in March 2012 compared to March 2011. On a month-over-month basis, home prices, including distressed sales, increased by 0.6 percent in March 2012 compared to February 2012, the first... Read more »