I love Lincoln Square in Chicago and with only a couple weeks left in 2011, I thought we'd look at single family home sales.
To date in the first half of 2011 (5/17/2011), we have 22 closed single family homes with a median price of about $450,000. It's two more closed than at the same point in 2010 (20 homes had closed by 5/17/11) with a median price of about $540,000.
At the 6 month point of 2010 we had 27 homes close for a median price of about $540,000. So far in 2011 There are currently 22 closed homes and 12 homes with PENDING contracts. We should see most of those pending contracts close by the end of the month to surpass the 2010 closed unit sales totals. The median price should end up just under $500,000.
It's important to remember that homes in Lincoln Square west of Western Avenue and north of Foster Avenue can sell for significantly lower than homes east of Western and south of Foster. You can really get a deal under median prices in this area, but you may be doing substantial renovations.