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Saturday, April 4, 2020

Preston Heights home prices rise in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Re 5

The median sale price of a home sold in the second half of 2017 in Preston Heights rose by $44,600 while total sales decreased by 46.7%, according to BlockShopper.com.

From July through December of 2017, there were eight homes sold, with a median sale price of $142,500 - a 45.6% increase over the $97,900 median sale price for the same period of the previous year. There were 15 homes sold in Preston Heights in the second half of 2016.

The median sales tax in Preston Heights for 2017 was $1,840. In 2016, the median sales tax was $1,732. This marks an increase of 6.2%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.3%.

The following table compares Preston Heights to other Will County cities with similar median sales prices in the second half of 2017:

City
July - Dec. 2017 Home Sales
July - Dec. 2016 Home Sales
% change (Total Home Sales)
July - Dec. 2017 Median Sales Price
July - Dec. 2016 Median Sales Price
% change (Median Sales Price)
Arbury Hills
9
6
50%
$159,808
$155,500
2.8%
Wolf Creek Island
6
2
200%
$158,975
$151,000
5.3%
Crete
92
125
-26.4%
$156,850
$142,000
10.5%
Wilmington
32
38
-15.8%
$154,950
$156,000
-0.7%
Lakewood Shores
4
9
-55.6%
$154,500
$135,000
14.4%
Preston Heights
8
15
-46.7%
$142,500
$97,900
45.6%
Braidwood
57
52
9.6%
$130,000
$120,000
8.3%
Fairmont
12
16
-25%
$127,500
$57,750
120.8%
University Park
26
57
-54.4%
$115,000
$90,250
27.4%
Steger
39
27
44.4%
$100,000
$46,599
114.6%
Ingalls Park
28
34
-17.6%
$96,000
$80,425
19.4%

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