The number of homes sold in Woodridge have continued to drop, but the home values have grown. A recent multiple listing search for the 2nd quarter numbers ranging from 2005-2008 show that the home values in Woodridge, IL, have increased over 2005 numbers.

The graph above shows the decreases in the number of homes sold in Woodridge over the 2nd quarters of 2005-2008. The number of homes sold is down about 35% compared to 2005 and have been on a steady decline.

This bar graph shows what has happened to the home values over the same periods. Here you can see the growth over 2005-2007 mentioned earlier. Notice that even though the prices dropped this year the home values are still above 2005 by about $25,000 (about a 8.2% increase in value over 3 years). In 2007 there was a spike in value, but unless you bought in 2007 and sold this year it would not have affected your pocket book.

The national media has stated that the housing prices topped out in early 2005 and began to decrease in 2006. You can see here that that is not the case in Woodridge. The prices actually peaked last year and began to decline this year. The good news is that home values are still up in Woodridge over the last few years, regardless of what has been happening on the national level.

If you would like an accurate home valuation or are looking to buy a home, contact your DuPage Realtor.

This information was obtained from the Multiple Listing Service of Northern Illinois and is considered to be accurate, but not guaranteed. The search included average prices of detached single family homes only.

Average List Price and Sale Prices by subdivision in the Woodridge area.

Property values in Woodridge, IL are increasing. Yes, you read that right...increasing. The data covers the last 3 years and shows that although the number of homes sold is down, the values have increased. The chart below shows the decline in detached single family homes sales from 2005-2007.

The data above confirms what the national media has been saying about the real estate market. It IS true, Woodridge has shown declines in the number of homes sold just like the rest of the country. As a percentage, home sales are down about 43% during this period. Where the news reports make their mistake is with the broad generalizations regarding the home prices. Below you will see what has happened to local home values over this same period of time.

The average value of a home in Woodridge has gone up over each of the last two years. Prices have increased by a total of just over $29,000. In other words, properties in 2007 were worth about 9.5% more than in 2005. This information shows that although the number of homes sold is down considerably, the values of homes have increased as well!

As the national media reports the doom and gloom, the local data shows prices have been climbing. The reason is that real estate is LOCAL, not national. Each state, county, city, and neighborhood will have varying property values. Consult your DuPage County Realtor to get an accurate home valuation.

This information was obtained from the Multiple Listing Service of Northern Illinois and the Mainstreet Organization of Realtors. The data is considered to be accurate, but not guaranteed. The search included only detached single family homes.