Activities last until 5 p.m. and all activities and rides for children of all ages are free. The Bath & Tennis Club will offer hamburgers, hot dogs and more for sale.

Children’s activities include pony rides, clowns, balloon artists, a magic show, moon jumps, cupcake decorating, sand art, a DJ who will play children’s music, tennis and golf (rackets and clubs will be supplied). Also on hand will be the village’s K-9 police officer, DARE officer and Fire Department personnel.

“While sales certainly have picked up across Illinois during the early spring and summer months, some buyers and sellers seem to be waiting for the all-clear signal to make a move in this market as economic and consumer confidence indicators remain weak,” said Kay Wirth, president of the Illinois Association of REALTORS.

  Wirth added that the new first-time buyer tax credit and foreclosure rescue program enacted by the Housing and Economic Recovery Act “should help stabilize the housing market.”

According to the Federal Home Loan Mortgage Corp., the second-quarter commitment rate for a 30-year, fixed-rate mortgage for the North Central Region averaged 6.12 percent, which was down from 6.40 percent one year ago.

   In the Chicagoland Primary Metropolitan Statistical Area, total home sales (including single-family and condominiums) dropped 28.9 percent in the second quarter to 20,679, as compared with the 29,092 homes sold in the second quarter last year. The median home sale price in the Chicagoland PMSA was $250,000 in the second quarter compared to $256,000 one year ago.

“Research shows that just one sale of a residential home in Illinois results in $28,413 in direct expenditures to other industries such as purchases of new furniture and appliances, repair costs and moving expenses. The housing market’s impact on the state’s economy underscores why REALTORS urge state and local government leaders to keep jobs in Illinois and foster a healthy economy,” said Wirth, a broker with Re/Max Unlimited Northwest in Crystal Lake.

Second quarter condo sales across the state were down—9,141 condos sold compared to 13,897 units sold in the second quarter of 2007. The 2nd quarter median price for a condominium in Illinois was $232,000, up from $223,000 a year ago.

]]> http://oak-brook-real-estate.com/illinois-home-sales-up/feed/ http://oak-brook-real-estate.com/market-stats-4/ http://oak-brook-real-estate.com/market-stats-4/#comments Sun, 10 Aug 2008 17:23:17 +0000 bill http://oak-brook-real-estate.com/market-stats-4/ Oak Brook’s average listing prices for the week ending Aug. 6, according to stats compiled by Trulia:

1 bedroom: $154,274

2 bedrooms: $485,627

3 bedrooms: $738,085

4 bedrooms: $1,304,892

The average listing price for all homes was: $1,122,077

The average sales price for all homes from May to July was $609,273 and 22 homes were sold during that period, according to Trulia.

The Village of Oak Brook hosts The Oak Brook 50th Anniversary Half Marathon starting at 7 a.m. on Monday, Sept. 1 (Labor Day). The run starts at Kensington Road, West of Jorie Blvd. and finishes in Oak Brook’s Central Park. Entry fee is $45. For more information, go to www.oakbrookhalfmarathon.com

Also on Sept. 1, the Forest Preserve District of DuPage County will host a solo exhibit featuring Oak Brook artist Judith Barath at Mayslake Peabody Estate, 1717 W. 31st St., Oak Brook. The exhibit, which is free, runs through Nov. 3. Call (630) 206-9566 for additional information.

1 bedroom: $158,560

2 bedrooms: $518,292

3 bedrooms: $748,655

4 bedrooms: $1,328,100

The average listing price for all homes was: $1,112,221

The average sales price for all homes from May to July was $609,273 and 22 homes were sold during that period, according to Trulia.

1 bedroom: $158,707

2 bedrooms: $521,272

3 bedrooms: $718,530

4 bedrooms: $1,338,038

The average listing price for all homes was: $1,086,595

The average sales price for all homes from May to July was $609,273 and 22 homes were sold during that period, according to Trulia.

NAR President Richard F. Gaylord said the current market offers immediate benefits and long-term value for many buyers. “Home buyers are getting a great deal right now,” he said. “Although inflationary expectations appear to be under control for the time being, sharper consumer price gains could lead to notably higher mortgage interest rates in 2009.”

Based on current indicators, the 30-year fixed-rate mortgage is forecast to rise gradually to 6.5 percent by the end of this year, and then hold at that level for most of next year.

Total home sales (including single-family homes and condominiums) were up 3.6 percent in June to 11,643 sales compared to May’s 11,243 sales. Year-over-year sales were down 27 percent from June 2007’s 15,945 sales. Illinois’ June median price was $200,000, down 6.1 percent from $213,000 in June 2007.

“There continues to be large local market variations statewide,” said Kay Wirth, president of the Illinois Association of REALTORS. “Economic factors have weighed heavily on home sales activity in Illinois this summer. Low consumer confidence, higher gas and good prices, plus turmoil in the financial markets and a tighter credit market have kept some would-be buyers on the sidelines despite the fact there are great deals to be had,”

The REALTORS’ group also reported that the monthly average commitment rate for a 30-year, fixed-rate mortgage for the North Central region was 6.38 percent in June 2008, up 0.34 points from the 6.04 average rate the previous month. Those stats are according to the Federal Home Loan Mortgage Corp. Last June the rate averaged 6.69 percent.

1 bedroom: $157,444

2 bedrooms: $519,186

3 bedrooms: $732,753

4 bedrooms: $1,423,488

The average listing price for all homes was: $1,098,066

The average sales price for all homes from April to June was $499,225 and 20 homes were sold during that period, according to Trulia.