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New Home Sales Fall 16 Percent from Dec. 2012-2013

The median prices of new homes sold increase by 25 percent in Montgomery.

The 25 single, detached homes sold in Montgomery during December 2013 represented a 16.7 percent decrease from December 2012, when 30 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

There were 29 homes sold in Montgomery during November.

Meanwhile, the median home sales price increased in Montgomery during December. The median price went up 25.4 percent to $185,000 from $147,500 in December 2012, according to the statistics.

Among the 59 Patch communities surveyed, the number of homes sold increased 8.2 percent, slightly below the rise seen across the estimated 200 Chicago suburbs MORe tracks.

“There’s no question that 2013 was an outstanding year for the Chicago-area housing market,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region. “In some ways it was even better than predicted, especially in regard to the upward trend in prices.”

Parent noted that the extreme cold we’ve experienced in 2014 has slowed the market, but he’s optimistic for the rest of the year.

“We expect to see good inventory coming on the market and an increase in buyers by the end of January,” he said. “Those are the homes that will be closing in April and May of 2014.”


Top Performers

  • Largest percentage increase in homes sold: Flossmoor (200 percent)

  • Largest percentage increase in median sales price: Downers Grove (56.9 percent)

  • Most homes sold in December 2013: Naperville (118)

  • Highest median sales price in December 2013: Hinsdale ($997,000)


Related: A chart of December sales for all Patch towns in the Chicago area.

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