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Saturday, April 4, 2020

New Lenox home prices fall in the fourth quarter of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Re 11

The median sale price of a home sold in the fourth quarter of 2017 in New Lenox fell by $20,000 while total sales decreased by 26.8%, according to BlockShopper.com.

From October through December of 2017, there were 109 homes sold, with a median sale price of $249,900 - a 7.4% decrease over the $269,900 median sale price for the same period of the previous year. There were 149 homes sold in New Lenox in the fourth quarter of 2016.

The median sales tax in New Lenox for 2017 was $6,632.13. In 2016, the median sales tax was $6,399.90. This marks an increase of 3.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.7%.

The following table compares New Lenox to other Will County cities with similar median sales prices in the fourth quarter of 2017:

City
Oct. - Dec. 2017 Home Sales
Oct. - Dec. 2016 Home Sales
% change (Total Home Sales)
Oct. - Dec. 2017 Median Sales Price
Oct. - Dec. 2016 Median Sales Price
% change (Median Sales Price)
Mokena
55
79
-30.4%
$287,000
$275,000
4.4%
Manhattan
68
73
-6.8%
$277,450
$228,000
21.7%
Lincoln Estates
1
1
0%
$270,000
$290,000
-6.9%
Plainfield
182
197
-7.6%
$265,775
$235,000
13.1%
Minooka
6
8
-25%
$257,500
$205,000
25.6%
New Lenox
109
149
-26.8%
$249,900
$269,900
-7.4%
Wheatland Plains
1
0
-
$234,500
$0
-
Tinley Park
28
24
16.7%
$229,000
$266,269.50
-14%
Willowbrook
9
8
12.5%
$222,500
$151,450
46.9%
Cherry Hill
5
2
150%
$220,000
$209,250
5.1%
Frankfort Square
33
32
3.1%
$216,000
$176,000
22.7%

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