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River Grove home prices rise in February 2017

Real Estate

By West Cook News | Mar 7, 2017

Realestate2

The median sale price of a home sold in February 2017 in River Grove rose by $50,000 while total sales increased by 18.2%, according to BlockShopper.com.

In February 2017, there were 13 homes sold, with a median sale price of $175,000 - a 40% increase over the $125,000 median sale price for the same period of the previous year. There were 11 homes sold in River Grove in February 2016.

The median sales tax in River Grove for 2017 was $5,351. In 2016, the median sales tax was $5,160. This marks an increase of 3.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 3.1%.

The following table compares River Grove to other Cook County cities with similar median sales prices in February 2017:

City
Feb. 2017 Home Sales
Feb. 2016 Home Sales
% change (Total Home Sales)
Feb. 2017 Median Sales Price
Feb. 2016 Median Sales Price
% change (Median Sales Price)
Hickory Hills
8
15
-46.7%
$184,000
$150,000
22.7%
Olympia Fields
7
5
40%
$182,000
$167,000
9%
Tinley Park
42
40
5%
$179,500
$157,500
14%
Schiller Park
6
13
-53.8%
$177,750
$199,000
-10.7%
Willow Springs
5
8
-37.5%
$176,000
$180,000
-2.2%
River Grove
13
11
18.2%
$175,000
$125,000
40%
Hanover Park
16
17
-5.9%
$175,000
$148,000
18.2%
Oak Forest
36
36
0%
$173,500
$149,500
16.1%
Cicero
48
51
-5.9%
$164,500
$135,000
21.9%
Melrose Park
17
11
54.5%
$163,500
$149,000
9.7%
Justice
5
7
-28.6%
$163,000
$125,000
30.4%

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