*In 2010, only 15 townhouse style homes sold in the Lincoln Square community area with a median price of about $394,000. This would be a surprise to me if I didn't know how hard it was to find a nicely finished true three bedroom townhouse east of Western avenue for $400,000. Low inventory. The median price reflected the deals people were picking up North of Foster and West of Western in the pleasant but father, lessor know reaches of Lincoln Square.
*However, 2010 numbers were actually up over 2009. In 2009, only 13 townhouse style homes sold with a median of $373,000.
Here's a look at sales of Lincoln Square townhouses from 2006 to 2010:
2006: 8 units old with a median price $410,000
2007: 26 units sold with a median price of $475,000 (helped by a 31 unit new construction townhouse development at 4949-5007 N Lincoln that registered 12 sales on it's own and the 8 in the top 10 of pricing).
2008: 21 units sold with a median over just over $500,000 (again, unit sales helped by the 4949-5007 N Lincoln Ave townhouse development).
2009: 13 units sold with a median price of $373,000 (Doh! 20% drop from 2008 )
2010: 15 units sold with a median price of $394,000
So, median prices for townhouses in Lincoln Square are $100K off the 2007-2008 peak pricing. It will be interesting to see if any of the higher end new construction buyers in the boom can list and afford to sell their townhouses now after owning just 3 or 4 years.
Read more about the Lincoln Square housing market here!
Townhouses are a great option when looking for a longer term home should you be planning a family or just need the extra designated rooms for guests or home office. Townhouses often come with an attached garage too...and it's snowing right now!
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