BY SANDY ILLIAN BOSCH | email@example.com January 8, 2013 7:59AM
Updated: January 8, 2013 8:00AM
BROOK — Local Realtor Dawn McKenna sees good things happening in the housing
market in 2013.
“I think the
market is really improving,” said McKenna of Coldwell Banker, who concentrates
her sales efforts in Hinsdale, Clarendon Hills, Burr Ridge and Oak Brook.
If the last
quarter of 2012 is any indication, she expects a busy 2013.
“There were a lot
of people wanting to buy homes,” McKenna said.
The most interest
was shown in the $800,000 to $1.2 million market.
“That’s the sweet
spot. We don’t have enough inventory,” McKenna said.
selling price of a detached single-family home in Oak Brook was $998,862 in the
first 11 months of 2012, up from $880,940 the year before, according to
statistics provided by the Mainstreet Organization of Realtors. The average
price spiked in November, rising to $1,172,500 — a 33 percent increase over the
same month in 2011 and a slight increase from the month before.
Sales of townhomes
and condominiums in Oak Brook saw a more modest increase so far in 2012, with
the average property selling for 17 percent more than a year ago.
“The condo market
has been hit pretty bad, but things are moving along,” said Realtor Jeannie
LaPlaca of Prudential Rubloff, who has listings in Hinsdale, Clarendon Hills
and Burr Ridge.
But even with a
flooded condo market, things are starting to move.
show that sales of attached residential properties in Oak Brook rose from 55 in
the first 11 months of 2011 to 68 in the first 11 months of 2012. The average
sales price also rose, from $247,500 to $303,210.
“I think buyers
are tired of waiting,” LaPlaca said, and with low interest rates, it’s a good
time to get a good deal.
Mike Long of
Realty Executives Premiere in Wheaton said the number of foreclosures and short
sales in most Chicago suburbs are down, which is a sign of good things to come.
The best markets
are still in towns with established downtown areas and access to the train
tracks, Long said. But towns like Burr Ridge and Oak Brook also have unique things,
including large lot sizes, to offer buyers.