These suburban markets were on fire in Q1

Home sales were up, and at higher prices than in 2019

TRD CHICAGO /
Apr.April 17, 2020 12:00 PM
This home in Winfield, Illinois sold for $320,000 in March (Credit: Google Maps)

This home in Winfield, Illinois sold for $320,000 in March (Credit: Google Maps)

Before the Chicagoland housing market froze in a coronavirus world, the suburbs were on a roll.

During the first quarter of 2020, in 15 suburban towns, more homes sold, at a higher median price and with fewer days on the market year-over-year, according to Crain’s.

The towns don’t include pricey locales such as Glencoe, Hinsdale and Winnetka. Instead, more affordable suburbs showed strength in the first quarter.

The Crain’s list includes Antioch, Beach Park, Burbank, Des Plaines, Glenwood, Grayslake, Lincolnwood. Maywood, Oak Park, Palos Hills, Plainfield, Villa Park, Westchester, Winfield and Wood Dale. Only Lincolnwood had a median sales price over $375,000. The others ranged from $161,000 (Beach Park) to $330,000 (Winfield).

The City of Chicago was also rebounding in the first two months of the year. According to data from Illinois Realtors, 1,472 homes sold in February, up 1.6 percent over the prior year. The median price was up to $290,000, an increase of 6.4 percent from the prior year. [Crain’s] James Kleimann

 

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