Wednesday, November 09, 2011

Lakeview single family home sales up 12%, prices up a smidge

We see a slight increase in Lakeview single family home sales and median price for 2011 over last year. This continues an over-all up-swing for single family homes in our top North Side neighborhoods we regularly work in.

House on Janssen in Lakeview

The Lakeview Community Area has seen 103 single family homes sold and closed from January 1st to November 1st in 2011. This is up 12 percent  from 92 homes sold during the same period 2010.  The median price was up $25K at $985,000 for 2011. Median was about $960,000 from  same period in 2010.

Interesting facts:
Highs: The highest priced Lakeview home closed thus far was 2856 N Hermitage, a spectacular newer construction luxury house on a 50' wide lot for $3.6 million. The house is located in a unique luxury sub-division overlooking Chi Che Wong Park. Just about 50% of homes sold over $1 million in Lakeview.

Lows: The lowest priced Lakeview single family home closing was a short sale at 1019 W George Street for $250,000 cash.  This was a ridiculous deal for the location bought by a professional.  I have not been back to the site, but it will most likely be a tear down at that price and potential sales margin, or, a salvaged gut renovation.

Distressed: Of 103 closed houses, 6 were either  foreclosures of short-sales (distressed properties) with two closed prices under $300K, two around the $500-$600K, and two closed over $700K.

Home on Janssen in Lakeview

All sales data gathered from and analysis by Eric Rojas, Real Estate Broker. All Photos Eric Rojas and Robert DePalma, Real Estate Brokers

No comments: