LISLE – Home prices in Lisle are down year over year, although the number of houses sold remains relatively stable.
The median detatched single family home sale price in Lisle dropped 11.4 percent in May compared to one year earlier, according to data from the Mainstreet Organization of Realtors, decreasing from $350,000 in May of last year to $310,000 in May 2014.
The number of houses sold year to year, however, was comparable, according to the organization, dropping 3.7 percent, from 27 in May 2013 to 26 one year later.
Sales Production Manager Brian Ernst of RE/MAX Action in Lisle offered his insights on the data.
"It's deceiving, because you don't have all the new construction in Lisle," he said. "The numbers are down because the inventory is down, too."
Sales across the west suburbs also declined in May compared to the same month in 2013 – by 4.2 percent, according to the data – but median prices rose 3.5 percent from $241,500 to $250,000.
Around the west suburbs
May 2013: 71 home sales at a median price of $335,000
May 2014: 55 home sales (-22.5 percent) at a median price of $349,900 (+4.5 percent)
May 2013: 169 home sales at a median price of $406,000
May 2014: 159 home sales (-5.9 percent) at a median price of $385,000 (-5.2 percent)
May 2013: 30 home sales at a median price of $241,000
May 2014: 22 home sales (-26.7 percent) at a median price of $252,500 (+4.8 percent)