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June housing sales are up in Berwyn

Published: Thursday, Aug. 7, 2014 11:32 a.m. CDT • Updated: Wednesday, Aug. 20, 2014 7:29 p.m. CDT
Caption
(Stock image)
June 2014 real estate data comparing sales to June 2013.

BERWYN – A total of 49 homes were sold in Berwyn in June, indicating an increase in sales of 22.5 percent compared to the 40 homes sold in June 2013, according to a year-over-year comparison of data provided by the Mainstreet Organization of Realtors.

In Cicero, June home sales were down by 8.3 percent with 44 homes sold compared to 48 in June 2013.

Stickney saw a 22.2 percent increase in June 2014 compared to June 2013, with a total of 11 homes sold in June this year compared to the nine homes sold in June 2013.

On the upside for the seller, the median home price in Berwyn increased by 35.2 percent in the comparison of June sales. The average price of a home in June 2013 was $122,500, compared to June 2014, when the average reached $165,000.

In Cicero, the median home price increased by 55.4 percent, with the average in June 2013 being $74,900, compared to June 2014, when the average was $100,500.

In Stickney, average home prices increased by 21.7 percent, when the average went from $115,500 in June 2013 to $140,000 in June 2014.

Realtor Loretta Alonzo of Century 21 Alonzo and Associates said it all comes down to supply and demand.

“I think right now it means that we’ve got a lower amount of inventory and a lower amount of foreclosures,” Alonzo said. “I Think that’s helping to increase the sales price a little bit because we don’t have those lower price properties, those foreclosures, in the market place.”

Part of it, she added, is normal appreciation of the prices. It’s not skyrocketing, but there is still pretty high demand.

“Buyers are realizing that prices are not that bad,” she said. “For first- time buyers, we still have some grant money from the Illinois Department of Housing, and that’s helping those first-time buyers.”

Alonzo said the prices will probably start leveling off for the rest of the year as the start of the school year approaches.

“People who needed to get their kids in a school probably have made their decision,” she said.

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