Visualizing suburban housing market momentum

by Meg White

Chicagoland is a big place, and the suburbs have seen a lot of shifts — some expected, some less so — in home prices. Look no further than our recent issue dedicated to the suburbs for some discussions of how this is impacting the work of agents on the north, west and south sides.

But all the anecdotes in the world can’t replace good, hard data. And similarly, there’s little that’s more helpful for understanding this kind of information than an interactive infographic. The map below, released earlier this week by the Mainstreet Organization of Realtors to illustrate year-over-year changes in home prices as of July, goes a long way toward helping brokers who work in the suburbs get a handle on where home prices are increasing, where they’re stable, and where they’re falling.

In terms of the communities that experienced the highest increase in median sale prices, Dolton saw a 51.7 percent increase in median sales price, followed by Fox Lake (45.6%), Glenwood (28.1%), Inverness (28%), Kenneyville-Roselle (25%), Vernon Hills (20.1%) and Woodridge (16.1%).

On the flip side, some of the areas that are seeing the most dramatic decreases in home price are Burr Ridge, which is down 30.7 percent, followed by Zion (-19.3%), Elmwood Park (-19.2%), Elmhust (-18.1%), Green Oaks/Libertyville (-15.6%), Wauconda (-14.8%), Calumet City (- 11.9%) and Carol Stream (-11%).

Some areas numbers were much more dramatic, but didn’t record enough sales activity over the month to make them statistically significant. For example, Robbins saw a 396.9 percent increase in sales price year-over-year, but only recorded three transactions in July 2019.

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