Friday, December 08, 2023

La Grange single family home sale units down almost 25%


Downtown La Grange is ready for the holiday season.

I've been back in La Grange over the past month looking for a four bedroom single family home with clients. They need a move early next year. Several families close to us (be it friends, work associates and/or clients) have made the move to La Grange over my career. My wife and I find ourselves in the desirable southwest suburb often. The community offers great public and private schools, robust downtown and convenient Metra transportation (BNSF line) to the city.

La Grange single family home sales January 1st to December 1st

155 La Grange single family homes sold from January 1st to December 1st this year.  The median price of a sold home is about $607,000.  The highest priced sold home was at 131 8th Avenue, La Grange IL 60525 for $1,285,000.  The lowest price single family home closing was at 39 Washington Avenue, La Grange IL  for $220,000. 

The la Grange downtown and Metra are two of the major factors for our clients making the move from the city.

- Unit sales are down almost 25% from same period 2022 where 203 single family homes sold with a median price of about $610,000.  Median price of a sold home remains about the same. As with most Chicago area markets low inventory and high mortgage interest rates have slowed sales but have not necessarily affected prices.

- In the frenzy of 2021 with low mortgage interest rates and accelerated buying time-lines a whopping 240 houses sold with a median price of about $570,000. 

- In 2019 pre-pandemic (normal times) 180 single family homes closed with a median price of $550,000.

Currently there are 14 single family homes on the active market with a median asking price of around $650,000. Homes are priced from $300,000 to $1,950,000. There are five homes listed on the Private Listing Network of our MLS... one priced near $3 million.

To buy, sell, rent and invest in Chicago and near suburbs please reach out  I'm happy to answer your questions.

No comments: