Tuesday, December 10, 2013

Logan Square single family home sales 2013: Units up 17%, median up over $100K

We were in Logan Square's "Boulevard District" this morning meeting contractors and clients on a couple of home sale listings we have coming up.

Attractive homes on the 2500 block of North Fairfield just off Logan Boulevard in Logan Square. Even in this hot market only one house came up for sale on the two blocks of popular North Fairfield between Fullerton and the Boulevard.  2522 N Fairfield sold quickly for $660,000. Two 2-flat buildings sold on the blocks for about $350,000 each.  Both needed gut rehab or tear down. (Photo from this morning, Eric Rojas, Real Estate Broker)

227 single family homes have been recorded as sold in the MLS this year (up to December 6th).  Unit sales are up about 17% over the same period in 2012. 

The median price was about $515,000 for 2013, well over the $406,000 median price same period last year. Most of the homes in the top half of sales price were either in the Bucktown area of Logan Square or close to the Logan Boulevard area.

A home on the north side of Historic Logan Boulevard in Logan Square
2013 (227 closed) continued the upward trend of single family home unit sales over the last four years.  193 homes were closed in 2012.  173 homes were closed same period in 2011, 146 closed in 2010 and only 121 in 2009. Logan Square has followed the trend of several popular and more expensive north side neighborhoods by climbing in units sales and median price since the 2008 financial crash.

The trend is more than just a rebounding housing market.  Logan Square has definitely been "hot and not" in fits and starts over the years.  However, the combination of expanded number of eateries, established hip institutions, housing market heat and great neighborhood buzz in the media have made Logan Square officially hot again in 2013.

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