January Home Sale Prices Up Significantly in Deerfield

By Michael Sewall

The 12 single, detached homes sold in Deerfield during January 2014 represented a 50 percent increase from January 2013, when just 8 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 dramatically in Deerfield during January. The median price went up 90 percent to $530,000 from $279,000 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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