Monday, September 26, 2011

Northcenter July, August single family home sales up 70%; Median price up 11%

The Northcenter Community Area continues the trend of hot single family home sales for 2011 in our target North Side neighborhoods. Unit sales for the two busy summer months of closings were up 70%.  Even better, median price was up 11% from $700,000 to $780,000. Most median prices were down across neighborhoods this summer.
2300 block of West Cullom in Northcenter

44 single family homes sold in July and August of 2011 this year, up +70% from 26 units sold in 2010.  The median price was also up about 11% to  about $780,000. 

The highest sale was $1,261,750 for a 2008 built house at 2038 W Pensacola. The house sits on a 37.5 feet extra wide lot and it's in Coonley school boundaries...arguably the hottest elementary school of the year.

The lowest sold price was $215,000 for a small bungalow foreclosure needing major renovation at 3632 N Artesian.  This is in the far southwest corner of Nortchcenter known as Addison Mall. This is a good option for affordable single family houses near the action of Roscoe Village.

Interesting Facts:
Of the 44 homes sales recorded in the MLS over July and August, three (3) were foreclosures and one (1) was a short sale.  Two of the foreclosures were sold under $300K at the very low end.  However, the highest priced foreclosure sale for the two months was $1,225,000 for a never lived in six bedroom new construction house (built across a 50' wide lot) at 4208 N Oakley in Coonley school boundaries.

We have shown and tracked dozens of houses in Northcenter.  If you want to buy a fully renovated home or fixer-upper, we know the market.  All stats gathered and analyzed from (our membership MLS) by Eric Rojas and Bob DePalma Real Estate Brokers. Anecdotal analysis is the opinion of Eric Rojas, Real Estate Broker.

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