Tuesday, January 03, 2012

Lincoln Square single family home sales up 26% in 2011, prices down

2131 W Agatite was the highest priced closed home in Lincoln Square for 2011

The blog is back for 2012 and it's home sale round up time for some of the neighborhoods we do business. We expected that most of the popular North Side neighborhoods such as Lincoln Park, Lake View, Lincoln Square, and North Center would see increased sales in single family homes and multi-unit properties (2-4 units).

82 single family homes were sold in Lincoln Square for 2011 with a median price of $465,000.  That's up 26% over 2010.  The median price slipped year to year, down by about $75,000.

17 of those homes sold in the fourth quarter (October 1st-December 31st 2011). The median price was about $420,000. That's up 5 closed homes over fourth quarter 2010.  However, the median price was down by about $30K from the same quarter 2010.

The Highs: The highest priced closing was 2131 W Agatite, a new construction home on a 37'x 124 lot for $1,775,487
The Lows: The lowest priced home closed for $100,000 at 5141 N Western.  It was a foreclosure on busy Western that has since been renovated and re-listed.
Distressed: 11 homes (13% of sales) were sold as either foreclosures or short sales.  12% of sales were distressed in 2010.

More local Chicago market statistics HERE!
All sold home statistics gathered from MREDLLC.com and analyzed by Eric Rojas and Robert DePalma, Realtors and Real estate Brokers. All Photos Eric Rojas and Robert DePalma

No comments: