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