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Real estate Downers Grove IL trends


Downers Grove IL, an affluent suburb in DuPage County is located 19 miles west of Chicago. The area boasts of being just minutes away from the O’Hare and Midway Airports which offer international access and is connected by a notable system of highways, bus, and rail transport to the metropolitan areas.

Downers Grove combines a suburban residential atmosphere with a remarkable business community to create a good place to live and work in.

In a similar fashion to other cities and towns of the state, Downers Grove IL real estate industry is also facing a crunch time due to the economy slowdown. The number of home sales in the fourth quarter of last year was a measly 100, three times less than the number in the second quarter. The median price of the homes has also witnessed a sharp decline of over $100 k from $370 k to about $260 k in just a few months. The market value is also going through a low of $346 k from a high of $358 k in the last one year.

A one bedroom house in the area comes with an average listing price tag of $160 k only. A two bedroom house would require just about $60 k more. A three bedroom house is priced at little below $500 k while $700 k can get a spacious four bedroom house.

Though the Downers Grove real estate market is facing a crunch situation, it is good time for people looking to buy homes. The low prices automatically translate to better deals and bargains.

Weichert Realtors with their 500 offices and 18000 sales agents specialize in providing the best deals to their customers and are offering a number of other real estate services like advice on mortgages, moving, home valuation tools and insurance.


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