Tuesday, July 09, 2013

Lincoln Square single family home sales 2013: Prices up, inventory low

It's been a dynamic year for Lincoln Square Community Area single family home sales.  In addition to houses changing hands, we've also seen significant renovations and custom new construction builds that have not been for sale (private builds).

New construction in the Bowmanville neighborhood of Lincoln Square (all photos Eric Rojas)

Lincoln Square single family home sales Jan 1st - July 5th

54 single family homes have sold between January 1st and July 5th of this year.  The median price is about $500,000.  Unit sales are only up about two homes over same period 2012.  Median price is up this year about $50,000.

The highest priced sale is a new construction house at 2104 W Sunnyside for $1,367,500 (closed in January). The original property was bought cash for $275,000... a steal considering the build and new sale! The lowest priced closing this year is a foreclosure sale at 5003 N Western for $169,900 cash (closed in May).   The busy and commercial Western Ave usually has the lowest residential sales in the Lincoln Square Community Area.

Foreclosure/ Short Sales

8 closed single family homes were listed as a foreclosure or short sale on the MLS.  The highest of these sales was a small, but renovated, house at 5255 N Damen for $310,000.  That was a short sale.

Under Contract

At the time of this writing, 29 single family homes are under contract. The median price of under contract homes is about $675,000.  Only 20 single family homes are actively listed in the Lincoln Square Community area at this time.

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