The real estate market in DeKalb has grown sizably in the last few years as property values have increased and new homes have been constructed.

“Real estate has been a very good investment for the past few years,” broker Cheryl Countryman said. “More people are moving in, the interest rates are good. There’s a lot of creative financing, so everyone can qualify.”

Countryman said prices have increased by 3 to 4 percent annually, and as much as 8 percent for some properties. Lower-priced homes have appreciated more than higher-priced homes, she said.

Roger Cohn, owner of Cohn Appraisal Service, 153 Terrace Drive, said he saw the same trend – about a 5 to 7 percent annual increase.

“It’s very difficult to find a single-family house below $115,000 and $120,000,” Cohn said. “Three, four years ago you could have probably found something around $75,000.”

The housing in DeKalb is still cheap compared to Fox Valley and other neighboring suburbs.

The proximity of tollways and rail transportation and new retail development have had positive influences on housing values, Cohn said.

Real estate agents agreed the demand for attached townhome housing also has gained popularity.

The number of townhomes built in the city jumped from 20 in the fiscal year 2001-2002 to 178 in the fiscal year 2004-05.

As the prices for detached housing has gone up, it has created a niche for attached housing, Cohn said. There are many more of these homes now than there were 10 years ago.

Countryman said townhomes are popular with younger people who have busier lifestyles and do not want to deal with maintenance, as well as with baby boomers.

The demand for new homes has gone up, she said. People are willing to pay more for new houses as they require less renovation.

However, the prices of existing homes can go up depending on the remodeling and additions such as a fireplace and skylight, Cohn said.