23 Aug 2014
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January Home Sale Prices Up in Highland Park

The median price increased nearly 25 percent in Jan. 2014 as compared to Jan. 2013.

January Home Sale Prices Up in Highland Park

By Michael Sewall

The 19 single, detached homes sold in Highland Park during January 2014 represented a 6 percent increase from January 2013, when just 18 homes were sold, according to statistics provided by the Mainstreet Organization of Realtors and the North Shore-Barrington Association of Realtors.

Meanwhile, the median home sales price increased more significantly in Highland Park during January. The median price went up 23 percent to $472,500 from $384,750 in January 2013, according to the statistics.

“Home prices in suburban Chicago have continued to experience healthy, sustainable growth in the first month of 2014,” said Michael Parent, president of MORe and Vice President of Operations for Burnet Title’s Chicago Region. “One of many factors driving increased prices is a continued lack of inventory, which will likely improve as people come out of hibernation and the market starts breaking open in March or April.”

Top Performers

  • Largest percentage increase in homes sold: Darien (100 percent)
  • Largest percentage increase in median sales price: Kenilworth (121.6 percent)
  • Most homes sold in January 2014: Naperville (74)
  • Highest median sales price in January 2014 (MORe): Hinsdale ($770,000)
  • Highest median sales price in January 2014 (NSBAR): Winnetka ($1.578 million)

Related: A chart of January sales for all Patch towns in the Chicago area.

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