AgentMarkets & Economy

Chicago sees home sales growth on a non-stop increase

All signs point to more growth in MORe region for 2016
  • Median home sale price increased 8.7 percent.
  • The Darien community saw 116.7 percent growth quarter-to-date.

Chicago is on a hot streak with no signs of stopping. Straight into its sixth quarter, the Windy City has seen nonstop growth in house sales and an increase in median home sale price. According to the Mainstreet Organization of Realtors (MORe), the number of single family detached houses sold in the first quarter totaled 7,045. MORe's region tallies the numbers from the approximate 200 communities located in DuPage, Lake and suburban Cook counties. "Five consecutive quarters of growth in the suburban housing market is very impressive,” said Lynn Madison, president of MORe and owner of Lynn Madison Seminars, in a press release. “The numbers we’re seeing are affirming the belief that the market is strong and enduring." Although the month-to-date numbers show a slight decrease (.05 percent) for March, the overall quarter-to-date numbers reveal an increase of 5.5 percent. The Darien community saw 116.7 percent growth quarter-to-date, the highest of any other community...