Richard Parr,Realtor,Real Estate Agent, Elmhurst and DuPage County Real Estate

Home sales and home values in Villa Park, IL, have declined compared to 2nd quarter numbers over the last 4 years. The number of homes sold is down by more than 70% since 2005. The values have fallen by about $28,000 or roughly 10% since 2005. The graph below shows the decreased home sales.

Here, you can see the decline in the number of homes sold in 2nd quarters over the last 4 years. The most recent quarter was nearly 72% fewer homes sold versus 2005. The graph below shows the home values during the same periods.

Here you can see that the values actually gained in 2006-2007, but have fallen significantly in 2008. There have been some foreclosures and short sales that have hurt the prices this quarter. Realize that these are only 2nd quarter numbers and there was only 30 homes in this period. If the number of homes sold begin to increase, you can anticipate a rebound in home values.

If you would like a receive an accurate home valuation or are planning to buy a home, contact your Villa Park 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 only average prices of detached single family homes.

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.

Property values in Itasca, IL, are about the same as 3 years ago. The data covers the last 3 years and shows that although the number of homes sold is down significantly, the values have remained relatively stable. 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, Itasca has shown declines in the number of homes sold just like the rest of the country. As a percentage, home sales are down about 47% 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.

This graph shows the average price of homes sold in Itasca in the same time frame. Notice that the price from the last 12 months is only about $6,300 less than the prices three years ago and the prices actually went up about $35,000 in the 2006. The current prices are down about 1.4% compared to the prices 3 years ago, which is down only about 0.7% per year.

As the national media reports the doom and gloom, the local data shows that the prices are about the same as 3 years ago. 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.

A recent search for detached single family homes in Darien, IL, shows that even though the number of homes sold is down significantly, the homes are worth about the same as three years ago. The graph below shows the decline in home sales is down about 33.5%.

This data confirms what the national media has been saying about the real estate market. It IS true, Darien has shown declines in the number of homes sold just like the rest of the country. Where the news reports go wrong is with the broad generalizations regarding the home prices. Below you will see what has happened to home values locally over this same period of time.

The graph above shows the prices in Darien have dropped slightly by only about $9,000 over the last three years. The decrease in value amounts to about 2.3% which is just over one percent per year and 2006 the prices were actually higher than 2005.

This information shows that although the national media is talking about significant losses in home values, the local values have remained relatively stable. The reason is that real estate is LOCAL, not national. Home values will vary from state to state, city to city and neighborhood to neighborhood. If you would like to receive an accurate valuation of your home, contact your DuPage Realtor.

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.

Property values in Burr Ridge, 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, Burr Ridge has shown declines in the number of homes sold just like the rest of the country. As a percentage, home sales are down about 41% 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 Burr Ridge has gone up over each of the last two years. Prices have increased by a total of just over $180,000. In other words, properties in 2007 were worth about 20.3% more than in 2005. This information shows that although the number of homes sold is down considerably, the values of homes have increased considerably during this time!

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.