Tuesday, June 18, 2013

Quick stats! Lakeview single family home sales up 21%, median price up 12% in 2013

It's been a very active and competitive single family home market this year in Lakeview. Our clients are exclusively in multiple offers on the homes they want to purchase. Inventory for nicely renovated three bedroom (or more) homes is low in terms of buyer demand.  Let's take a look at some interesting sales numbers.

I spotted this rare (and gorgeous) East Lakeview single family home among the many multi-unit buildings on the 2800 block of North Cambridge. It's not for sale, but the good market has prompted more vintage East Lakeview homeowners to sell than in past years.
Lakeview single family home sales January 1st to June 14th, 2013

67 Lakeview single family homes closed (sold) in just over the half-way point for the year.  Almost half of those houses (32 homes) sold over $1 million dollars.  The median price for a Lakeview house at this time is about $970,000.

Lakeview single family homes sales are up 21% over sales during the same period in 2012.  The median price is up about 12%.

At the Chicago lakefront in Lakeview (photo Eric Rojas)
The highest Lakeview single family home sale was 3830 N Wayne for $3,100,000.  The 5 bedrooms 37' wide lot home was built in 2007 and featured an attached front entrance garage.  The lowest sale was 1756 W Fletcher for $371,000 cash (and $4,000 over the list price).  The small bungalow on a standard city lot was a foreclosure sale and will most likely be torn down for new construction.  Pretty nice deal for that location regardless of some train noise from the Metra tracks.

8 of the 67 houses sold were listed as either foreclosure (bank owned, REO) or short sale.

Under contract, for sale

There are currently 49 single family homes under contract in Lakeview.  The median asking  price of the contracted homes is about  $1,175,000.  This could push the median price of house for the year in the Lakeview Community Area to over $1 million.

There are only 38 actively listed houses for sale (at time of this post).  Of those, 25 homes are priced over $1 million. 

All stats gathered from MREDLLC.com (our member MLS) and analyzed/ interpreted by Eric Rojas, Real Estate Broker. Stats are as accurate as possible and best used as a guide to market activity.