Welcome to "Sold," a roundup of recent local home sales.
Several properties sold in August in the village of , according to AOL Real Estate.
August Home Sales
- 560 4th St. (2 Bed, 1 Bath, 8,625 sq. ft.): $43,301
- 79 W. Logan St. (3 Bed, 3 Bath, 7,800 sq. ft.): $256,000
- 1063 Hermes Ave. (5 Bed, 5 Bath, 3,047 sq. ft.): $420,000
- 12206 Sumner St. (3 Bed, 3 Bath, 2,006 sq. ft.): $254,000
According to a recent analysis by RE/MAX, more homes changed hands more quickly in the seven-county metropolitan Chicago real estate market in August, as compared to previous years.
The average number of days that homes sold in August spent on the market before a sales contract was signed fell from 165 days a year ago to 139 days in August. That marks the lowest market time for the metro area in any month since December 2007, RE/MAX said in a press release.
“The inventory of homes for sale and the days needed to sell a home continue to shrink, which is a positive sign for home values going forward. It also indicates that the market is being brought back into balance,” said Laura Ortoleva, a spokesperson for the RE/MAX Northern Illinois real estate network.
The RE/MAX analysis also showed that all seven counties and Chicago recorded higher detached-home sales in August compared to the same month last year. Will County led the metro counties with a 32 percent sales increase, followed by McHenry at 26 percent, Cook and Kane at 25 percent each, Lake at 20 percent, DuPage at 10 percent and Kendall at 6 percent. Detached sales in Chicago rose 8 percent.
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