November Housing Sales Rise in Wheaton

The 45 single, detached homes sold in Wheaton during November 2013 represented a 4.7 percent increase from November 2012, when just 43 homes were sold, according to the Mainstreet Organization of Realtors.

Meanwhile, the median home sales priceincreased in Wheaton during November. The median price rose 6.8 percent to $320,500 from $300,000 in November 2012, according to the statistics.

Among the 59 Patch communities surveyed, the number of homes sold decreased 2.6 percent, on par with the 2.4 percent drop seen across the estimated 200 Chicago suburbs MORe tracks. The median sales price of homes sold in Patch communities increased 5 percent from November 2012 to 2013. MORe reports that the number of homes under contract to close in 2014 actually increased 12.5 percent.

“We should continue to see a very solid housing market in 2014,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region. “The gradual, sustainable increase of home prices in the Chicago suburban market is an especially positive trend. Rising values will allow more people to regain equity in their homes, helping to increase inventory, cut down on the number of future distressed properties and get the market moving. It’s truly a win for everyone — both buyers and sellers.”

Top Performers

• Largest percentage increase in homes sold: Channahon (233 percent)

• Largest percentage increase in median sales price: Forest Park (90.7 percent)