Wheaton Home Sales Jump 115% in February

The 28 detached, single-family homes sold in Wheaton during February 2013 represented a 115.4 percent increase over February 2012, when 13 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

There were 25 homes sold in Wheaton during January.

While the number of home sales was up, the median price of homes sold in February was down in Wheaton. The median price fell 6 percent to $265,000 from $282,000 in February 2012. 

The market for detached, single-family homes in suburbs throughout DuPage County saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Wheaton saw the second largest percent increase in DuPage County. Burr Ridge had the largest percent increase, with 11 homes sold, a 175 percent increase from February 2012.

Downers Grove had the smallest percent change, with a 4.8 percent increase in February of this year over 2012.

Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe. 

MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012.  

“In many cases the cost of buying a home today is cheaper than renting,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “When you factor in affordable home prices and historically low interest rates, today’s market represents a ‘perfect storm’ of conditions that may not exist again in our lifetimes.”

585,000

317,500

273,750

257,500

282,322

286,000

403,750

282,500

366,000

275,000

1,135,000

448,750

319,250

215,000

385,000

382,000

265,000

282,000

236,500

226,975

Source: Mainstreet Organization of Realtors