Halfway through 2016, Chicago’s suburban housing market continues its hot sales streak. The Mainstreet Organization of Realtors’ region, which includes about 200 communities in DuPage, Lake and suburban Cook counties, experienced strong sales gains again in June, as reflected in information provided by Midwest Real Estate Data LLC.
Statistics released by MORe show houses selling quickly and for higher prices in June. The median sale price of houses increased by 7.2 percent to $268,000 in June, while the average time these houses were on the market went down by 6.7 percent to 84 days.
The number of single-family detached houses sold in June in MORe’s region rose 2.6 percent to 4,798 houses, compared to 4,677 houses sold in June of 2015. The number of single-family detached houses placed under contract in June increased by 16.9 percent to 4,714 houses.
Communities that saw a pronounced increase in the number of houses placed under contract include Aurora (25.6 percent), Hoffman Estates (25 percent), Elmhurst (18.5 percent), Oak Lawn (20.4 percent) and Glen Ellyn (27.6 percent).
Communities that recorded notable growth in the number of houses sold in June include Naperville (10.5 percent), Park Ridge (16.4 percent), St. Charles (25 percent), Wheaton (16.2 percent) and Geneva (18.3 percent).
“The suburban real estate market is on track for a strong year in sales. Buyers should be prepared to act quickly with solid purchase offers. Sellers should prepare their homes for sale,” said Lynn Madison, president of the Mainstreet Organization of Realtors.

