Suburban home sales rise 27 percent in July

DOWNERS GROVE, Ill. – Sales of single-family detached homes in suburban Chicago climbed 27 percent in July 2012 compared to the same period a year ago, according to statistics released by the Mainstreet Organization of Realtors (MORe).

MORe’s region – which includes about 200 communities in DuPage, Lake, Will and suburban Cook counties – experienced notable sales gains last month. 

The momentum is expected to continue as the number of detached homes under contract in July grew by more than 60 percent in those same communities.

“I am encouraged to see sales activity remain strong through July,” said Tom Krettler, co-president of MORe and broker associate at RE/MAX Unlimited Northwest in Palatine. “If you get showings in this market, in most cases the offer will come.”

In addition to price, Krettler says the condition of a home is playing an increasingly important role in attracting buyers.

“More people seem to be looking for turn-key homes than fixer-uppers,” he said. “They are putting their savings into a down payment and don’t have extra money for improvements.”​

» View the article on Morris Daily Herald's website.
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