Will County Gazette

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Thursday, April 9, 2020

University Park (Will County) home prices rise in the fourth quarter of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Realestate2

The median sale price of a home sold in the fourth quarter of 2017 in University Park in Will County rose by $15,000 while total sales decreased by 55.2%, according to BlockShopper.com.

From October through December of 2017, there were 13 homes sold, with a median sale price of $110,000 - a 15.8% increase over the $95,000 median sale price for the same period of the previous year. There were 29 homes sold in University Park in the fourth quarter of 2016.

The median sales tax in University Park for 2017 was $4,454.72. In 2016, the median sales tax was $4,221.80. This marks an increase of 5.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 4%.

The following table compares University Park 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)
Boula
1
4
-75%
$156,000
$126,787
23%
Crest Hill
66
74
-10.8%
$155,000
$147,937.50
4.8%
Wilmington
12
18
-33.3%
$149,750
$153,300
-2.3%
Braidwood
23
21
9.5%
$133,000
$97,000
37.1%
Ingalls Park
9
20
-55%
$117,500
$77,500
51.6%
University Park
13
29
-55.2%
$110,000
$95,000
15.8%
Wolf Creek Island
2
1
100%
$108,875
$152,500
-28.6%
Ridgewood
2
3
-33.3%
$105,000
$27,500
281.8%
Steger
24
10
140%
$96,500
$48,299.50
99.8%
Preston Heights
5
7
-28.6%
$85,000
$110,000
-22.7%
Fairmont
7
10
-30%
$75,000
$45,000
66.7%
* This story only considers sales data for the part of University Park that is in Will County.

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