Where, in the wide range of Chicagoland’s suburbs, are home sales the highest?
Last week, we reported that after a disappointing January, home sales in the Chicagoland area bounced back in a major way in February, improving 3.7 percentage points by yearly standards.
Specific to the suburban housing markets, though, what areas saw the most home sales? Using the latest round of exclusive monthly data from our friends at Redfin, we put together a series of graphs answering just that question.
First, here are the communities that saw the most total home sales:
As you can see, Aurora was once again at the top of the pack, and by a decent distance from second-place Naperville.
When we break the data down a bit further and focus only on single-family home sales, though, things get interesting:
Aurora is still No. 1, but Joliet and Plainfield vault to the No. 2 and 3 positions, and poor Naperville falls to No. 4; similarly, Waukegan and Wheaton enter the picture, after being absent in the total sales list.
What if we break sales down even further, and look at condos and townhomes?
Aurora still comes out on top, but Naperville reclaims its No. 2 spot. Interestingly, Palatine sneaks in all the way at No. 3, and the Evanston, Oak Lawn, Hoffman Estates, Northbrook and Streamwood communities also join the rankings.
Stay tuned for our follow-up report next week, which will look at what suburban markets are the most competitive, in terms of inventory and time on market.