Total unit sales of Lincoln Park single family homes in Chicago's 60614 zip code are up 27% over the same period of time in 2009.
In 2009 January through August, 77 single family homes were sold with a median price of about $1,500,000. The lowest priced single family home to sell was $515,000 and the highest was $5,600,000.
In 2010 January through the present date, 106 single family homes have been sold with a median price of $1,300,000. The lowest priced home was $425,000 and the highest was the much chatted about $8,500,000 (the second highest so far this year is$4,300,000... almost half!).
Lincoln Park multi-units up 316%
Lakeview, Northcenter multi-units up 77%
(Data analyzed from MREDLLC.com, my member MLS. The small percentage of homes sold off the MLS collected statistics are not included in the data).
Wow! That's amazing given the downward national July numbers.
Since you are a real estate agent, it should not be amazing to you. The 2009 season first half was dismal due to the bank crash. We then had a pretty good fall closing season.
This year shot out of a cannon as money loosend up and the folks sitting around with cash picked up the pieces of 2009. Also, many sellers got the memo as to where to price their homes if they ever wanted to move.
Another segment selling this year are retired folks sitting on a cool $1M in their home... their retirement investment accounts are schlock, so you have to liquify the house.
I don't expect a fall season 2010-Sept, Oct, Nov- to out preform 2009 in closings.
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