Wednesday, February 02, 2011

January Lincoln Square single family home sales up big

Lincoln Square closed homes for January 2011 are up 500% over 2010...seriously.

6 Lincoln Square single family homes have closed in January 2011

compared to only 1 closed home in January 2010. Another 12 houses are currently under contract.

The median price of the six closed homes was about $475,000... the highest being $910,000. Of the homes under contract, the highest price is $1,700,000.

I think we'll have more homes sold this year in Lincoln Square than 2010 as buyers and sellers continue to get closer together in their understanding of the market. It also took buyers a long time to gain confidence and realize that interest rates and home prices are more affordable to them than during the bubble. The main obstacle will continue to be how many people motivated to sell their homes can actually afford to sell them.

Please call us to buy or sell Lincoln Square and other North Side neighborhood homes.

Read more Lincoln Square posts here!

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