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Local News

Home sales, prices down in Glen Ellyn year over year

GLEN ELLYN – Both the number of homes sold and the median sale price is down year over year in Glen Ellyn, according to data from the Mainstreet Organization of Realtors.

Forty four detached single family houses sold in the village in May 2014, compared to 58 in May 2013 – a 24.1-percent drop, the data stated.

Additionally, the median sale price decreased 11.3 percent year to year in Glen Ellyn, from $415,500 last May, to $368,500 two months ago, according to the organization.

Managing Broker Lisa Cleaver, of RE/MAX Suburban in Glen Ellyn, attributed the low numbers to spring 2014's unusually cold temperatures.

"I really think a lot had to do with the cold weather," she said.

Cleaver said May sales tend to close in March – a time when many buyers simply weren't willing to brave the bitter cold.

Numbers are expected to increase in the coming months, she said.

Cleaver also said many sellers saw the market improve in 2013 and may be overanticipating what buyers are willing to pay after the housing crisis.

Sales across the west suburbs declined in May compared to the same month in 2013 – by 4.2 percent, according to the data – but median prices rose 3.5 percent from $241,500 to $250,000.

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Around the west suburbs

WHEATON

May 2013: 70 home sales at a median price of $351,000

May 2014: 55 home sales (-21.4 percent) at a median price of $360,000 (+2.6 percent)

LOMBARD

May 2013: 48 home sales at a median price of $197,697

May 2014: 41 home sales (-14.6 percent) at a median price of $240,000 (+21.4 percent)

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