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Area housing market sees slight decrease in 2013, 2014 month-to-month comparison

Published: Thursday, Aug. 7, 2014 11:30 a.m. CDT • Updated: Thursday, Aug. 7, 2014 12:20 p.m. CDT
(Stock image)
June 2014 real estate sales for the La Grange area compared to sales in June 2013.

LA GRANGE – A month-to-month comparison of home sales in the La Grange area shows sales decreased slightly between 2013 and 2014, according to data provided by the Mainstreet Organization of REALTORS.

While La Grange had 20 homes sell in June 2013, only 19 sold in June 2014. Although sales were one house less than the previous year, the sales June 2014 sold at a higher price than the 16 homes sold in May 2014.

Realtor Catherine Dugan LaBelle, with Baird and Warner, said right now, buyers can be pickier and demand is high and particular.

“Part of the issue with the slow down is the lack of inventory,” LaBelle said. “Buyers are taking their time ... and are less likely to make very expensive purchases.”

Of the 19 sold homes in June 2014, the average buyer paid about $455,000 versus the June 2013 buyers who paid on average $405,000, according to the Mainstreet Organization of REALTORS.

Aside from La Grange, nearby neighborhoods are experiencing similar numbers as well.

Both, Western Springs – with 26 sold homes in 2014 versus the 35 homes in 2013 – and Westchester – with 23 sold in 2014 compared to its 36 homes sold in 2013 – experienced decreased sales numbers in June.

Contrary to neighboring towns, La Grange Park and Broadview both saw increases in the housing market.

Broadview’s housing market increased by 50 percent with 12 homes sold in June of 2014 compared to six sold in 2013. Likewise, La Grange Park sold 17 houses in June 2014 compared to the 15 homes sold in 2013.

As for future sales, LaBelle said she expects the market to rise in the fall.

“It’s still a great time to buy,” LaBelle said. “It’s a wonderful long-term investment for any family.”

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