Nov
16

South Chicago Real Estate is on the Rebound

November 16, 2012

south chicago real estate reboundPrices for single family homes in the south Chicago area are on the rise! Zip codes including the Chicago Lawn, Auburn Gresham and Beverly areas saw the highest home value gains since June 30, according to Chicago Real Estate Daily.

So, why are Chicago real estate prices rising in these areas? The main reason is that investors are buying, rehabbing and flipping homes in the south Chicago area. However, even with these gains, some homes in the south suburbs are still being affected by foreclosures.

Here’s a full list of the Chicago suburbs with the highest price appreciations:

  • Chicago Lawn and West Lawn
  • Near West Side and East Garfield Park
  • Auburn Gresham
  • Beverly
  • Belmont Cragin, Hermosa
  • Evanston
  • Highland Park
  • Wilmette
  • Humboldt Park, Austin
  • Cicero

Here’s a full list of the Chicago suburbs where prices have declined the most:

  • Chicago Heights, Ford Heights, Saulk Village
  • Homewood
  • Harvey
  • Park Forest
  • Flossmoor
  • Olympia Fields
  • Midlothian
  • Blue Island
  • Markham
  • Crete

The Chicago and West Lawn suburbs experienced the highest price increase of 5.81 percent. Chicago Heights, Ford Heights and Saulk Village experienced the largest price decrease of 12.95 percent.

Do you own or plan to buy a home in any of these areas?

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Jessica Thom

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