Tuesday, April 28, 2009

Ravenswood, Lincoln Square Single Family Homes Sales Hot in First Quarter 2009?

Despite the April chill in the weather, single family home sales in Ravenswood and Lincoln Square remain a stable. The photo above was taken at an open house I stopped during the last snowfall of the year (nice kitchen but still on the market at $700,000).

Eleven single family homes closed in the first quarter, just two off of the 2008 numbers. More surprising is the median price was up three percent.

Over the last four months in the greater core of the Ravenswood, Lincoln Square neighborhoods located between West Montrose Avenue (4400N) to West Foster Avenue (5200N) and North Ashland Avenue (1600W) to North Western Avenue (2400W) there are about 29 single family homes for sale from $400,000 and up ($400,000 represents a price where move-in homes start). Over the same four months, there have been eleven closings. Even more positive, there are currently eight homes under contract.

29 available home vs. 19 sold or under contract is not bad.

The median price of sold homes is $632,500 according the Midwest Real Estate Data LLC.

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