Sunday, February 02, 2014

North Center single family home construction continues, prices and unit sales rising

The trend of large new construction homes looms large in North Center community area. North Center has probably been the hottest single family home market in Chicago over the last three years in terms of home prices and new construction.
I took a nice long walk around North Center last week.  Two new homes are being built near the corner of West Cullom and North Bell close to Welles Park.

Home unit sales and median price has continued to climb in North Center since 2010

254 single family homes closed in North Center for 2013 with a median price of $875,000.
190 homes closed in 2012 with a median house price of $817,000
177 homes closed in 2011 with a median closing price of $800,000.
144 homes closed in 2010 with a median house price of $747,000

Home construction on the 2200 block of West Collom

20 homes are currently under contract in North Center.  11 of those homes under contract have list prices over $1 million dollars

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