Business & Tech
New Lenox Home Prices Drop Most in Will County
Homeowners' biggest asset is losing its value in New Lenox with bigger price drops than Mokena and Frankfort.
Single-family home prices fell last year in most Chicago-area towns, but none more in Will County than New Lenox's.
According to Crain's Chicago Business, 238 of 252 Chicago-area zip codes tracked by Fiserv Inc. saw their home prices fall in 2010, with the overall drop being about 5.2 percent. New Lenox home prices dropped slightly below the average, at 5.8 percent, but it was the worst in the county.
See below for a chart of the sales price drops for all area Patch towns.
Find out what's happening in New Lenoxfor free with the latest updates from Patch.
In a video covering the prices drops, a Crain's reporter said the biggest declines were in the city's southside neighborhoods. South suburban Harvey suffered the biggest drop, 19.6%, and other area Patch towns closer to the city also took bigger hits than New Lenox. Evergreen Park had a 9.6 percent drop.
West suburban Clarendon Hills had the largest increase, at 3.6 percent. There were no towns in Will County with increased sale prices, though Peotone (0.80 percent) was the highest mark. Naperville dropped just 2.4 percent and Frankfort by 2.6 percent, the lowest of nearby Patch towns.
Find out what's happening in New Lenoxfor free with the latest updates from Patch.
The future should be brighter, though. According to Crain's, Fiserv predicts a fractional decrease in sale prices this year and an average 3.4 percent increase in 2012.
Town Percentage Drop Naperville (60564) -2.4 percent Frankfort -2.6 percent Bolingbrook (60440) -2.7 percent Shorewood -2.8 percent Channahon -3.1 percent Naperville (60565) -3.1 percent Plainfied (60544) -3.2 percent Romeoville -3.3 percent Flossmoor -3.4 percent Chicago Heights -4.2 percent Homewood -4.3 percent Mokena -4.3 percent Bolingbrook (60490) -4.4 percent Plainfield (60585) -4.5 percent Plainfield (60586) -5.0 percent Tinley Park -5.2 percent Oak Forest -5.3 percent Orland Park (60467) -5.5 percent New Lenox -5.8 percent Orland Park (60462) -6.0 percent Palos Heights -6.5 percent Palos Park -6.6 percent Palos Hills -6.8 percent Oak Lawn -8.7 percent Evergreen Park -9.6 percentGet more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
