The increase in median selling price of houses across the city has largely been driven by a high number of sales at the top of the value scale, suggesting that sales of upper-tier houses are driving the price increases.
Single family houses in the city sold for a median of $165,000 last quarter, a 13% increase over last quarter. Sales volume was 2.4% higher than last quarter, but remains well below the volume seen in the third and fourth quarters of 2011. The data is reported in the latest Chicago Housing Quarterly.
The city’s condominium market experienced its second consecutive double-digit quarterly increase in sales and price in the three months ending September 30, according to the latest Chicago Housing Quarterly. Sales increased by 11.6% to 5,076 and median selling price increased 10.5% to $237,500.
The median selling prices of houses and condominiums/townhomes in Lakeview and Logan Square jumped last quarter, with volume increasing in both neighborhoods. In Lakeview, 110 houses sold between April and June (down from the previous quarter), but the median selling price jumped to $550,000. It had been $390,000 the previous quarter and $490,000 in the [...]
Led by many of the edge neighborhoods that had been hit hardest by the downturn, the city’s housing market experienced a strong second quarter of 2011, according to neighborhood-level data presented in the latest Chicago Housing Quarterly. Among the report’s findings: Citywide, sales of houses increased 9.4% over the previous quarter to 6,723; however, this [...]
Rogers Park and Humboldt Park share some similarities: both are areas that were considered “edge neighborhoods”, up and coming during the housing boom; both were affordable alternatives to Lakeview on the North Side or Wicker Park on the west side; and both have stuggled with crime and the perception of crime in the past. Both [...]
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