WOODRIDGE – The median sales price of a home in Woodridge is up 4.8 percent this May compared to last May, but sales are largely still lagging, according to data from the Mainstreet Organization of Realtors.
In May 2013, a total of 30 homes sold at a median sales price of $241,000 while 22 homes sold this past May at a median price of $252,500 – up 4.8 percent over last year, the realtor organization said.
Liz Moore, with RE/MAX, said the market is becoming increasingly friendly for sellers.
"I have experienced multiple offer situations, and I think it's going to keep going this route," Moore said. "Buyers have to be aggressive right now, especially if they want a good home that's priced well."
Single family home prices are up, but townhomes and condominiums are down, she said.
"There are some pretty good deals out there for buyers in that market," Moore said.
Sales across the west suburban area also declined in May compared to the same month in 2013 – by 4. 2 percent, according to the data – but median sale prices rose 3.5 percent from $241,500 to $250,000.
Looking forward through the summer, Moore said she is optimistic values will continue to rise locally, putting pressure on buyers.
"I think it will keep going this route. If a buyer is serious, they need to be educated and know what it's going to take to be the best buyer," she said.
Around the western suburbs
May 2013: 71 home sales at a median price of $335,000
May 2014: 55 home sales (-22.5 percent) at a median price of $349,900 (+4.5 percent)
May 2013: 169 home sales at a median price of $406,000
May 2014: 159 home sales (-5.9 percent) at a median price of $385,000 (-5.2 percent)
May 2013: 27 home sales at a median price of $350,000
May 2014: 26 home sales (-3.7 percent) at a median price of $310,000 (-11.4 percent)
May 2013: 76 home sales at a median price of $196,250
May 2014: 80 home sales (+5.3 percent) at a median price of $187,500 (-4.5 percent)