Chicago is on a hot streak with no signs of stopping. Straight into its sixth quarter, the Windy City has seen nonstop growth in house sales and an increase in median home sale price.
According to the Mainstreet Organization of Realtors (MORe), the number of single family detached houses sold in the first quarter totaled 7,045. MORe’s region tallies the numbers from the approximate 200 communities located in DuPage, Lake and suburban Cook counties.
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“Five consecutive quarters of growth in the suburban housing market is very impressive,” said Lynn Madison, president of MORe and owner of Lynn Madison Seminars, in a press release. “The numbers we’re seeing are affirming the belief that the market is strong and enduring.”
Although the month-to-date numbers show a slight decrease (.05 percent) for March, the overall quarter-to-date numbers reveal an increase of 5.5 percent.
The Darien community saw 116.7 percent growth quarter-to-date, the highest of any other community in the area. There has also been around 40 percent increase in new home listings.
“This is the time of year you’d expect to see growth,” said Brian Kwilosz, owner and managing broker of Exit Real Estate Partners in Downers Grove. Kwilosz said his team recently listed a house in Darien that received multiple offers and sold in one day.
MORe’s press release also noted significant growth in Fox Lake (112.5 percent), Glenwood (93.8 percent), Winthrop Harbor (84.6 percent), Broadview (63.2 percent), Rolling Meadows (52.2 percent) and Glen Ellyn (49.3 percent).
The 7,045 total homes sold presents a 5.5 percent increase in sales since the last quarter.
