The 16 detached, single-family homes sold in Hinsdale during February 2013 represented a 60 percent increase over February 2012, when 10 homes were sold, according to the Mainstreet Organization of Realtors (MORe).

The number was also up from January 2013, when 12 homes were sold.

The median price of homes sold was also up in Hinsdale. The median price rose 152.9 percent year over year, from $448,750 in February 2012 to $1,135,000 in February 2013.

The market for detached, single-family homes in suburbs throughout DuPage County saw growth in January, MORe reported. MORe gets its statistics from Midwest Real Estate Data.

Wheaton saw the second largest percent increase in DuPage County. Burr Ridge had the largest percent increase, with 11 homes sold, a 175 percent increase from February 2012.

Downers Grove had the smallest percent change, with a 4.8 percent increase in February of this year over 2012.

Overall across the Chicago suburbs, sales of single-family detached homes rose 37.5 percent in January over the same month in 2012, according to MORe. 

MORe predicts February will be another month of local housing market growth, as the number of detached homes under contract in January 2013 was 60 percent higher than in January 2012.  

“In many cases the cost of buying a home today is cheaper than renting,” said Tonya Corder, president of MORe and managing broker of Keller Williams Preferred Realty in Orland Park. “When you factor in affordable home prices and historically low interest rates, today’s market represents a ‘perfect storm’ of conditions that may not exist again in our lifetimes.”

Source: Mainstreet Organization of Realtors