Thursday, November 03, 2011

Bucktown, Wicker Park single family home sales up in 20% in 2011

Increased single family home sales has been the story on the North Side for 2011 thus far. Let's see how Bucktown and Wicker Park are doing.

The West Town Community Area has two very trendy neighborhoods of Bucktown and Wicker Park that we sell and buy in regularly (roughly West Augusta to West Armitage and North Ashland to North Western). These are distinct bell-weather neighborhoods for West Town and alternatives to Lincoln Park or Lakeview for our clientele. Some clients want to be here from the start due to the distinct urban feel, great restaurants and access to downtown.  

Bucktown and Wicker Park has seen 84 houses sold and closed from January 1st to November 1st of this 2011. This is up 20% from 69 homes sold during the same period 2010.  The median price was about $712,000. Median is down a bit from $780,000 same period 2010.

Interesting facts:
-The highest priced home closed thus far was 1804 N Leavitt, a new 8000 plus sq/ft converted warehouse at $2.7 million. 
-The lowest priced closing was a foreclosure at 1816 West Haddon for $201,000.  This is a likely tear-down property.
- Of 84 closed houses, 11 were either  foreclosures of short-sales (distressed properties). This is probably a little higher percentage than blue chip centers of Lincoln Park and Lakeview. 8 of the 11 distressed sales were in the very low-end of pricing (under $400,000).

Vintage homes in Wicker Park
 Click HERE for more Chicago Local market stats!
All stats gathered and analyzed from by Eric Rojas, Real Estate Broker.  All photos Eric Rojas and Bob DePalma, Real Estate Brokers unless otherwise noted.

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