I was writing an article on another one of my blogs about Palos Park real estate and how it is the priciest southwest suburb when I viewed the latest sales stats from 2010. Palos Park is no longer the highest priced village in the area, a title it has held for many, many years. The new town with a high price tag is now Lemont, IL, with an average sale price in 2010 of $394,873 vs. Palos Park's average home price at $380,888.
I've always loved both villages but am surprised at this change. Is Palos Park losing its luster? Has Lemont truly won a popularity contest? Why?
Both Palos Park and Lemont have new construction occurring, so it's not that you can't find new construction in Palos Park, and that's usually where some of the high prices come from. Were most of the sales in 2010 distressed in Palos Park compared to Lemont?
I haven't dug deep enough (and don't think I will), but I will be interested in next year's statistics to see if Palos Park continues its downward trend. The price for Lemont homes actually increased by a small percentage, which is great in this market.
If you're interested in Palos Park or Lemont homes for sale, click on the above links and you'll find the contact information you need, plus a link to a customized MLS search for each town. Or call Judy Orr at 708-536-8200.