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Glen Ellyn Median Home Price Drops Significantly in September

While homes continue to sell in Glen Ellyn, the median price of a home dropped about 35 percent from Sept. 2011.

Home sales in the Chicago area during September were at a six-year high, according to a recent RE/MAX report—but it was a mixed bag if you were trying to sell property in DuPage County.

The number of homes sold dropped in Burr Ridge, Darien, Downers Grove, Glen Ellyn and Hinsdale in September 2012 compared to September 2011, according to the Mainstreet Organization of Realtors (MORe), which used statistics from the Multiple Listing Service.

Glen Ellyn saw a slight drop in the number of homes sold in September, with 27 home sales, two fewer than in 2011, a 6.9 percent decline. The biggest decline was in median sales price, which dropped 35.6 percent from $400,000 in Sept. 2011 to $257,500 in Sept. 2012. The average sale price in Sept. 2012 was $313,543. 

Burr Ridge experienced the greatest decline in homes sales among the DuPage sample with a 37.5 percent decrease. However, it also had the smallest number of transactions with five homes sold in Sept. 2012 and eight homes sold in Sept. 2011. The average sale price also dropped in Burr Ridge, falling 19.8 percent year over year.

The report was rosier for Elmhurst, Lisle, Naperville and Woodridge, all of which saw the number of homes sold increase by double-digit percentages, according to MORe.

Lisle had the greatest leap in home sales, with a 57.1 percent increase in Sept. 2012 over Sept. 2011. The average sales price dropped, however, by 13.9 percent. 

Across the Chicago area, the number of homes sold in September rose by 22 percent over Sept. 2011, according to RE/MAX. At 7,396 transactions, it was the busiest September for home sales since 2006. 

“We continue to see good news in the Chicagoland housing market,” said Laura Ortoleva, media spokesperson for the RE/MAX Northern Illinois real estate network. “Sales are up, average days on the market continue to drop and home prices are stabilizing. These are trends everyone likes to see.”

# of homes sold
Avg. price Town 2012 2011 % change 2012 2011 % change Burr Ridge 5 8 -37.5%

568,600

708,785

-19.8% Darien 7 10 -30%

339,785

267,250

27.1% Downers Grove 27 33 -18.2%

330,607

318,459

3.8% Elmhurst 41 36 13.9%

374,256

402,136

-6.9% Glen Ellyn 27 29 -6.9

313,543

432,250

-27.5% Hinsdale 16 24 -33.3%

752,131

848,484

-11.4% Lisle 11 7 57.1%

307,250

356,992

-13.9% Naperville 123 94 30.9%

420,784

400,323

5.1% Wheaton 47 43 9.3%

339,542

345,968

-1.9% Woodridge 20 14 42.9%

243,871

213,946

14%

Source: Mainstreet Organization of Realtors

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