|New construction on the 3600 block of North Hoyne in North Center|
I was in the North Center neighborhood yesterday prepping a new listing. We've been monitoring the boom and representing clients in this hot, hot neighborhood for many years. The rate of new house construction this spring is really amazing. The activity is a combination of properties bought and held in 2009-2011 for bargain prices after the crash and now re-developed and more recent "flips" bought at higher current market rates, re-developed and sold quickly.
North Center Closed Single Family Homes January 1st to April 14th, 2015
43 single family homes are recorded as closed this year in our MLS with a median price of over $1.1 million. 24 of the 43 homes closed over $1,000,000. 34 single family homes were closed over the same period in 2014 with a median price of about $935,000. 16 out of the 34 homes sold for a price over $1,000,000. We see a significant jump in median price from the 2011-2012 years to the present.
2013 39 homes closed with a median price of about $995,000
2012 28 homes closed with a median price of about $550,000
2011 33 homes closed with a median price of about $720,000
2010 26 homes closed with a median price of about $738,000
2009 27 homes closed with a median price of about $720,000
There are currently another 43 single family homes under contract in North Center. 27 of these houses have asking prices above $1,000,000.
Here's a handful of new construction and renovation shots around the West Addison and North Leavitt intersection in North Center. I barely drove a three block radius!
|3657 N Leavitt, Chicago, IL 60618 is under contract with an asking price of $2,349,000. The new construction home is on a desirable 40 foot wide corner lot.|
|Tons of construction activity in the Addison and Leavitt area of North Center.|