Market Conditions in 60521>Question Details

Peter, Both Buyer and Seller in Chicago, IL

Why are average listing prices going up in Hinsdale? Any theories?

Asked by Peter, Chicago, IL Mon Sep 8, 2008

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7
Jim Rybowiak’s answer
When corporate America's executive relocate to the Chicago area, Hinsdale is usually one of he suburbs that is recommended. It has excellent school, a historic downtown, charm of a small town yet close to all major expressways, the two major airports, world class shopping within a couple of miles, and a quick 22 minute morning train ride to downtown Chicago. I my opinion, these are great reason for the demand. As is usually the case price follows supply and demand. My fellow agents have addressed some other reasons, which too have an impact.
Web Reference: http://www.jimrybowiak.com
0 votes Thank Flag Link Wed Jul 1, 2009
Simple. Supply is down and demand is still high. Prices in Hinsdale stopped declining about 18 months ago. All forecasts for the Western Suburbs of Chicago is a continuation of the upward trend. It is still a good time to be a buyer because of the low interest rates. It is now a good time also to be a seller because there is a lower inventory than in the past years -- homes are selling. I keep track of the local statistics by town on a quarterly basis.
0 votes Thank Flag Link Mon Feb 17, 2014
Please note, this question was posted Sep 8, 2008.
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What does the trend line look like from 2008 to 2013?

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Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
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0 votes Thank Flag Link Tue Aug 20, 2013
Like many cities and neighborhoods with strong demand, they typically weather the downmarket better and thus are seeing increased value as the market rebounds.
0 votes Thank Flag Link Tue Aug 20, 2013
It might have to do with lower end houses selling and higher end houses remaining on the market, since there are many properties that have had at least some price cuts. But as the other replies indicate, Hinsdale is prime, a community that, because of teardowns, albiet they have slowed, consistently improves over time. Great schools great location. Like another answer, the best place in the western suburbs to go if you have over $1M to spend and want some kind of reassurance that you will get your money back.
0 votes Thank Flag Link Thu Sep 11, 2008
Affluent communities are less impacted (in general) by economic downturns. Hinsdale has excellent access to the commuter trains for executives with offices in Chicago. Many work in nearby communities like Oak Brook too. Schools are well rated, Oak Brook Mall & other high end shopping areas are nearby etc... Where would you choose to buy in the western burbs if spending over $1m and be comfortable there would be buyers waiting if you needed to relocate?
0 votes Thank Flag Link Mon Sep 8, 2008
The MLS is showing that the average listing price in Hinsdale is $1,326,386.

If you need average market time or anything else, send me an email.
0 votes Thank Flag Link Mon Sep 8, 2008
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