The 66 single, detached homes sold in Glen Ellyn during August 2013 represented a 12 percent increase over August 2012, when 59 homes were sold, according to the Mainstreet Organization of Realtors (MORe).
As the number of homes sold increased in Glen Ellyn, the median home price also increased 7.6 percent, to $375,500 from $349,000 in August 2012, according to the statistics.
In DuPage County, Wheaton experienced the most significant increase in sales over the same period last year—173 percent. Wheaton also had the greatest percentage increase in median sales price, up 34.5 percent.
According to Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region, the sustained activity is being driven by a number of factors, including lower inventory levels and rising interest rates.
“Lower inventory levels mean buyers are more involved, they don’t have their pick between 20 different homes,” Parent said in a MORe news release. “That’s brought back a sense of anticipation and excitement that is really helping to move the market.”