Lakeshore Analytics

Jolt for stable Albany Park condo market

The Albany Park condominium market has heretofore been fairly stable compared to its peers, but suffered a steep drop in sales velocity and median selling price in the fourth quarter 2010 (see chart). While late 2008 and early 2009 saw sales drop off, the sales volume appeared to be stabilizing around 70 units/quarter for the [...]

Woes continue for Chicago’s lowest tier

The latest volume of Chicago Housing Quarterly, for 4Q 2010, shows the lowest tier of Chicago homes had a rough end to 2010, continuing the woes we have reported in the past. The chart attached shows the Case-Shiller Index by tier, with 1/3 of home sales assigned to each tier. The index is a paired-sales [...]

Rough quarter for far north condos

It was a rough quarter for condominium sales in Chicago’s two northernmost neighborhoods, Rogers Park and Edgewater: In Rogers Park, the median selling price of a condominium fell 36% from the prior quarter and 52% from the same quarter a year ago, to just $87,000. There were 157 sales, compared with 202 the prior quarter. Rogers [...]

Recovery underway for Logan Square houses

House prices in Logan Square took a serious dive from 2007 to 2009, but have increased the last three quarters, even as sales volume has approached pre-crash levels. The median price of a single family home sold in Logan Square was $301,500, the highest since the third quarter of 2009.  The metric peaked at $524,250 [...]

In Humboldt Park, condos follow houses

The condominium market in Humboldt Park is a shadow of its former self, as 41 condominiums sold for a median price of just $85,000 in the fourth quarter of 2010. In the peak quarter in 2007, 138 condominiums sold for a median price of $310,000. For most of the recession, the median price was above [...]

Mortgage rates up after long slide

Mortgage rates turned upward last quarter after an historic slide that brought Freddie Mac’s average 30-year fixed rate to 4.23%. Freddie Mac’s averages for the end of 2010: 4.71% for a 30-year fixed mortgage 4.10% for a 15-year fixed mortgage 2.75% fixed for the first five years of an adjustable rate mortgage However, Moody’s (“U.S. Chartbook: Still [...]