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May’s Chicago suburban real estate market surpasses 2015

06/27/2016

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The housing market in Chicago’s west and north suburbs are really heating up so far this year. According to recent data released by the Mainstreet Organization of Realtors (MORe), Lake, DuPage and parts of Cook counties are witnessing an increase in home prices as of May compared with the same time last year. More homes are also selling and at a faster pace than they were last May, the organization says. In May 2016, the number of homes for sale in the 200 communities covered by MORe increased by 9.1 percent to 4,002, and the median home price inched up 4.4 percent to $249,000. “This is a good, healthy, sustainable market,” said Lynn Madison, the president of the Mainstreet Organization of Realtors. “Prices have been on a steady upswing since the beginning of 2015.” Hom…

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