Falling home prices in Medinah in the fourth quarter of 2021
The median sale price of a home sold in the fourth quarter of 2021 in Medinah fell by $56,500 while total sales decreased by 11.1%, according to BlockShopper.com.
From October through December of 2021, there were eight homes sold, with a median sale price of $343,500 - a 14.1% decrease over the $400,000 median sale price for the same period of the previous year. There were nine homes sold in Medinah in the fourth quarter of 2020.
The median sales tax in Medinah for the most recent year with available data, 2019, was $7,369, approximately 2.1% of the median home sale price for the fourth quarter of 2021.
The following table compares Medinah to other DuPage County cities with similar median sale prices in the fourth quarter of 2021:
| City | Oct. - Dec. 2021 Home Sales | Oct. - Dec. 2020 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2021 Median Sales Price | Oct. - Dec. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Downers Grove | 230 | 247 | -6.9% | $392,500 | $340,000 | 15.4% |
| Oakbrook Terrace | 12 | 10 | 20% | $380,000 | $237,500 | 60% |
| Winfield | 37 | 51 | -27.5% | $355,000 | $323,000 | 9.9% |
| Bartlett | 113 | 113 | 0% | $345,000 | $300,000 | 15% |
| Wheaton | 240 | 260 | -7.7% | $343,750 | $329,500 | 4.3% |
| Medinah | 8 | 9 | -11.1% | $343,500 | $400,000 | -14.1% |
| Bolingbrook | 6 | 2 | 200% | $336,500 | $154,750 | 117.4% |
| Darien | 116 | 129 | -10.1% | $335,000 | $320,000 | 4.7% |
| Bloomingdale | 105 | 118 | -11% | $322,000 | $287,500 | 12% |
| Itasca | 40 | 29 | 37.9% | $314,500 | $297,500 | 5.7% |
| Lisle | 94 | 104 | -9.6% | $308,000 | $306,500 | 0.5% |