Monday, January 14, 2013

North Centersingle family home sales up 8% in 2012

We observed that 2011 was a big year for home sales in North Center Community Area with 177 homes sold.  Consumer confidence, stabilizing home prices, low interest rates, resurgence of builder/developers and the three popular public schools (Audubon, Bell and Coonley) all combined to create one of the most dynamic single family home markets in the city. Yet, we predicted better sales in 2012.
A typical North Center block near Western and Irving.

North Center Single Family Home Sales in 2012

191 homes sold in 2012. That's up about 8% over 2011.  The median price for a North Center house was about $800,000 for the year (even with last year's $800,000). The highest sale was 1912 W Belle Plaine for $1,610,000.  The lowest sale was 2425 W Fletcher for $120,888.  This was a tear down property in the less desirable location near busy Belmont and Western. Only 25 of the 191 closings were under $500,000.

53 of the 191 homes (28%) sold over $1 million dollars  in 2012.  That's about the same as the 52 homes sold for over $1 million in 2011.

Short-Sale and Foreclosures (Bank Owned/ REO)

Only 12 of the 191 single family home closings (6%) in North Center were listed as a short sale of foreclosure sale.

We represented seller and buyer clients in the sale and purchase of North Center and Lincoln Square homes from $400,000 to over $1M this past year.  Please contact us if looking to buy or sell a home on the North Side.