Monday, November 21, 2011

Lincoln Square single family home unit sales up 26% in 2011

Lincoln Square Community Area continues to position itself as one of the best single family home values on the North Side with median home prices about $475,000. With the a affordable price tag and neighborhood great amenities, single family home unit sales were up 26%. Most of the community area is close enough to downtown by CTA Brown Line and Metra, awesome parks, retail and restaurants, good access to highways, good school choices and lots of free activities.

One of two play lots at Welles Park in Lincoln Square

68 single family homes closed from January 1st to November 1st in 2011 with a median price of about $475,000.  This is about 26% higher than 2010 sales of 54 homes sold during the same period. Median price slipped a bit to $475,000 from $515,000 in 2010, same period.

The Highs: The highest priced home closing was 2131 W Agatite for $1.7 million.  The home is a brand new luxury construction build on a 37.5 feet wide lot.  The leafy location is tucked just steps from popular Welles Park and Sulzer Library. Six homes closed over $1 million in Lincoln Square so far. Eight homes closed for over $1 million same period last year.

The Lows: The lowest priced home closed was $100,000 for a foreclosure house at 5141 N Western Ave.  Western is a busy four lane major artery road. However, the actual location is close to the desired Lincoln Square retail and restaurant mecca thus the home has been gut renovated and placed back on the market for sale.The lower sales on average tend to be on Western Avenue, Foster Avenue and south of Foster Avenue.

Distressed: 10 single family homes out of the 68 sold were either short sale of foreclosure (bank owned, REO) sales.  From our research, this is a higher percentage than some adjacent neighborhoods to the immediate south. 

We love finding values in Lincoln Square.  If you have questions about the community and the available properties, please call us at 773-510-1597.
More Lincoln Square posts here!

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