Thursday, February 18, 2016

Home sales in Waters school district 2015: units sold up 27% and median price up 21%

A couple new single family home conversions caught my eye in the Waters school district of the Ravenswood Gardens neighborhood. The two-flat at 2418 W Wilson sold in early 2014 for $549,000 cash. The converted project was listed at $1,259,000 on the MLS earlier this year but is now cancelled.  2420 W Wilson was bought at the same time for $600,000 in early 2014. Both developer projects are listed for sale by Coldwell Banker according to the signs.

2416 W Wilson pictured below on the right (corner home on the alley) sold for $535,000 in early 2015 and now is under construction.
2416 W Wilson on the right is under gut renovation.  The three adjacent homes on Wilson in Waters school district are all formerly two-flats getting make-overs to single family homes.
Let's check in on home sales in this desirable area with a well rated neighborhood school.

Approximately 28 single family homes closed in the Waters elementary school district in 2015.  The median price of a house was $765,000 for the year.

The lowest sale was $425,000 for a two bedrooms "move-in ready" brick bungalow at 2529 W Cullom Ave, Chicago IL 60618. The highest sale in the district in 2015 was $1,237,500 in the Waters Elementary school district at 2510 W Cullom Ave, Chicago IL 60618.  It's rare to have the lowest and highest sold homes in a school district on the same block (unless one is a tear down and one is new construction).  The 2500 block of West Cullom is a desirable block on the Chicago River North Branch.

Past sales22 homes were recorded as sold in the MLS for Waters school district in 2014 with a median price about $675,000.  In 2013, 22 homes were also recorded as sold but with median price of about $569,000.  In 2012, about 19 homes closed with a median price about $630,000.

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