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Wednesday, November 27, 2024

Summit home prices rise in the first half of 2019

Re 11

The median sale price of a home sold in the first half of 2019 in Summit rose by $10,000 while total sales decreased by 32.6%, according to BlockShopper.com.

From January through June of 2019, there were 29 homes sold, with a median sale price of $165,000 - a 6.5% increase over the $155,000 median sale price for the same period of the previous year. There were 43 homes sold in Summit in the first half of 2018.

The median sales tax in Summit for the most recent year with available data, 2018, was $5,394, approximately 3.3% of the median home sale price for the first half of 2019.

The following table compares Summit to other Cook County cities with similar median sales prices in the first half of 2019:

CityJan. - June 2019 Home SalesJan. - June 2018 Home Sales% change (Total Home Sales)Jan. - June 2019 Median Sales PriceJan. - June 2018 Median Sales Price% change (Median Sales Price)
Bellwood111112-0.9%$169,000$150,50012.3%
Stone Park189100%$167,500$163,0002.8%
Palos Hills134162-17.3%$167,500$160,0004.7%
Oak Lawn449535-16.1%$165,000$174,500-5.4%
Matteson147150-2%$165,000$143,50015%
Summit2943-32.6%$165,000$155,0006.5%
Lynwood53498.2%$158,000$162,000-2.5%
Maywood138158-12.7%$148,000$125,00018.4%
Midlothian112138-18.8%$145,500$133,2509.2%
Homewood185187-1.1%$140,000$138,5001.1%
Rosemont1116-31.3%$140,000$364,500-61.6%

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