RE/MAX study: Chicago-area home prices rebounded faster in Metra communities

Median home prices rose twice as fast in Chicago-area communities and suburbs served by Metra commuter trains than those without the service, according to a recent study by RE/MAX Northern Illinois.

But the Metra connection seemed to have less impact on home sales and time on market, both of which were similar regardless of whether a community had Metra service or did not, the RE/MAX study found.

Here are some of the details related to median price comparisons from the RE/MAX news release:

The study compared home sales in the first half of this year to similar periods last year and in 2008, which is when the real estate market was still near its peak. The results show that in the 116 communities that have Metra train service, the median sales price increased 5.6 percent to $170,000 compared to the same time period in 2012. The median sales price rose 2.3 percent to $148,000 in suburbs without Metra service.

In other recent headlines:

Sale Prices for Homes Rising More in Towns Served by Metra – Romeoville Patch

Chicago-area foreclosures down 59% from last August – Chicago Tribune

A setback for wind farms – News-Gazette

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About Stephanie Sievers

Stephanie Sievers is Associate Editor for the Illinois Association of REALTORS®. She serves as Associate Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.