Metra Communities See Larger Home Price Increases

    166 communities that have Metra train service experienced an increase in median home sale prices of 5.6 percent in 2013, while non-Metra communities only rose by 2.3 percent during the same period. This according to a recent RE/MAX press release.

    Interestingly, the suburbs without Metra service matched the Metra-served communities in the average number of days a home was listed prior to going under contract.  Average market time for the Metra and non-Metra communities in 2013 was 131 days, 40 days less than 2012.

    The Re/Max study also found that the overall growth in home sale activity was similar in both Metra and non-Metra communities.  The number of home sales in the first half of 2013 were 29% higher in the Metra communities and increased 28% in suburbs without Metra service.

    Source: Re/Max Press Release

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