Sunday, January 25, 2015

Median sales in River Grove, IL, 60191 are increasing for single family homes

Chicago area real estate appraiser Michael Walsh recently completed a appraisal on a single family home in River Grove, IL 60171 and found median sales prices increasing and the market oversupplied.

According to MRED MLS statistics for the last twelve months for MLS area 171 River Grove, the median sales price for Detached Housing increased 11.3%, average marketing time declined -37.3% to 69 days on the market, and there is currently a 5.0 month supply of inventory. This level is considered a oversupply. REO & Short Sales account for approximately 27% of total sales.

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