The number of single-family homes sold in May 2014 in Wheaton dropped 21.4 percent compared to a year earlier, according to statistics released by the Mainstreet Organization of REALTORS (MORe).
In total, 55 homes were sold in May 2014 while 70 homes were sold in May 2013, according to MORe statistics. Meanwhile, the median home sales price increased by 2.6 percent to $360,000 in May 2014. The median home sales was $351,000 in May 2013.
In Glen Ellyn, the number of home sales dropped 24.1 percent with 44 homes sold in May 2014 compared to 58 homes sold in May 2013. The median home sales price dropped by 11.3 percent to $368,500 in May 2014. The median home sales price was $415,500 in May 2013.
Throughout the suburbs, prices of single-family, detached homes increased 12.1 percent in May 2014 compared with the same period a year ago, according to statistics released by the Mainstreet Organization of REALTORS (MORe).
The number of homes under contract also grew last month by 6.3 percent.
MORe’s region – which includes about 200 communities in DuPage, Lake and suburban Cook counties – experienced notable gains last month, as reflected in information provided by Midwest Real Estate Data, LLC.
“Overall we are seeing many positive indicators for the suburban housing market: good prices, multiple offers and inventory levels that have begun to stabilize in some areas,” Parent said. “Sellers have begun to get the message and put their signs up. And, with interest rates still hovering below five percent, if you’re a buyer it’s time to get out there and act.”
In a year-to-year comparison of sales of single-family detached homes, several suburban communities saw increased sales activity, including: Antioch (91 percent increase from May 2013), Fox Lake (138 percent), Schiller Park (100 percent), Winfield (80 percent) and Willow Springs (133 percent).