I realize this was a very old post, but now that the crisis is bottoming out, let's look at the recovery or lack of it in each town based on median prices. There was a comment in that Hinsdale will always outpace Burr Ridge. Hmmm...not last year. This was my blog post from this morning. All stats are from MRED LL, the area MLS:
What are real estate prices doing? Ummm...it depends. A lot of attention is given to changes in average and median prices, average being a math problem where we add 'em up and divide and median being where we line 'em up and pick the middle number. Averages can be badly skewed by outliers, either high or low. Both are influenced by the type of property sold - the towns we watch have a wide range of property price ranges. That being said, for detached single family homes in the following towns comparing Feb. 2011 - Jan. 2012 with Feb. 2012 - Jan. 2013 we find: Darien up 1.9%, Burr Ridge up 7.7%, Downers Grove up 2.7%, Riverside down .6%, Western Springs was flat, La Grange was flat and Hinsdale was down 1%. Biggest gainer: Burr Ridge. Biggest loser - Hinsdale. Sounds like a reality TV show, doesn't it? Let me know if you want actual #'s on any town. Values from MRED LLC, the local MLS.