Community Corner

Homes Prices Slowly Inch Up in Algonquin, LITH

While home prices appear to be on the rise in Algonquin and LITH, several other suburbs throughout the Chicago area continue to see prices hold steady or continue to drop, according to Crain's Chicago Business.

The housing market appears to slowly be rebounding in Algonquin and Lake in the Hills as home prices begin to inch up, according to a Crain's interactive map on area housing prices. 

The one-year change in prices for Algonquin homes is up 1.2 percent while Lake in the Hills home prices have increased by .7 percent, according to Crain's. Still, the five year change in prices is at a deficit. In Algonquin, the cost of a home is on average 34 percent less today than it was five years ago, according to Crain's interactive map.

The Chicago suburb that saw the biggest increase is Austin — located just west of the city — which saw a 16.6 percent change over the past year in home prices while Palos Park saw the largest decrease in home prices at -6.2 percent, according to a different Crain's graphic. 

Check out Crain's interactive map to see how other area suburbs compare and to learn more about home prices throughout the area. 


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