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Tuesday, December 24, 2024

Palos Park home prices rise in the first quarter of 2017

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The median sale price of a home sold in the first quarter of 2017 in Palos Park rose by $55,000 while total sales increased by 34.8%, according to BlockShopper.com.

From January through March of 2017, there were 31 homes sold, with a median sale price of $300,000 - a 22.4% increase over the $245,000 median sale price for the same period of the previous year. There were 23 homes sold in Palos Park in the first quarter of 2016.

The median sales tax in Palos Park for 2017 was $7,177.73. In 2016, the median sales tax was $6,949.10. This marks an increase of 3.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.4%.

The following table compares Palos Park to other Cook County cities with similar median sales prices in the first quarter of 2017:

CityJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
La Grange Park433619.4%$362,000$287,00026.1%
La Grange494216.7%$357,000$333,7507%
Forest River6450%$325,000$199,50062.9%
Oak Park1781657.9%$320,000$272,50017.4%
Evanston20218111.6%$320,000$300,0006.7%
Palos Park312334.8%$300,000$245,00022.4%
Skokie183190-3.7%$288,000$270,0006.7%
Lemont5055-9.1%$285,000$340,000-16.2%
La Grange Highlands12933.3%$285,000$310,000-8.1%
Glenbrook Countryside23-33.3%$280,250$312,500-10.3%
Arlington Heights27820535.6%$275,500$277,000-0.5%

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