Wednesday, May 07, 2014

My fun facts on Ravenswood Manor in Chicago Mag

Chicago Magazine interviewed about Ravenswood Manor homes sales last week. Read their story HERE
North Branch of Chicago River. Photo Eric Rojas, Broker, Kale Realty
Here's some recent and interesting home sale facts I gathered for the Ravenswood Manor neighborhood in Chicago.

2 homes have closed in Ravenswood Manor neighborhood boundaries from Jan 1st-April 28th, 2014.  The average price for the traditional, similar sized Chicago bungalows that sold is $515,000.  Both had unfinished attics.

The $480,000 house needed everything updated.  The $550,000 house had a nice kitchen update, attractive main level and finished basement space.

Currently, there are 3 homes listed for sale in the Manor from $499,000 to $1,375,000 and one home under contract with a a list asking price of $795,000.

Same period in 2013, 5 houses sold with closed prices from $425,000 to $895,000.  There is simply low inventory in the small manor thus far in 2014.

A Ravenswood Manor house (Photo, Eric Rojas, Broker, Kale Realty)

 In all of 2013, twenty-one houses closed in the relatively small neighborhood. The median price was $475,000.  A home sold at the median price or lower can be "move in ready", but would be on the smaller side without a finished attic or basement. Most homes sold under the median price are likely a vintage brick bungalow that need kitchen and bath updates.

In 2012,  12 houses closed all year with a median of $535,000.

The standout qualities of Ravenswood Manor are several: The leafy, quiet setting near the Lincoln Square retail and entertainment district, the many tile roofs, the river, the well defined close-knit neighborhood, a well regarded public school in Waters Elementary and most notable:
In the last 15 months there have been 23 single family home sales. NOT one new construction home was sold in the lot.  All were re-sale homes built in the early 1900s of varying degrees of renovation (closed prices from $375,000 to $1,035,00).

The consistent character and architecture, yet individual attractiveness of the brick single family homes, is unique to the North Side so close to Lincoln Square.

No comments: