Tuesday, September 13, 2016

Peterson Park single family home sales rebound from 2012

A quiet tree-lined street in Peterson Park (All photos Eric Rojas, Broker, Kale Realty).
Need an affordable single family house with a great yard in a quiet North Side neighborhood? Like to be close to a fantastic and diverse park? Highly rated school sound good?  Enjoy visiting or working in the North Shore?  Peterson Park in the greater North Park community area could be the place for you! I was back in the neighborhood yesterday consulting a client on home renovations and sales prices.

Peterson Park single family home sales Jan 1st-Sept 9th, 2016
Like many North Side Chicago neighborhoods Peterson Park single family homes sales prices and unit sales have picked up over the last four years.  The big turn-around period is about 2012-2016 where prices across most neighborhoods have steadily increased.  However, the area still presents an affordable opportunity to own your own house near many city and suburban amenities.

32 single family homes sold in the Peterson Park neighborhood from January 1st to September 9th, 2016.  The median price of a house is $380,000.  $380,000 can get you a move-in three bedroom raised ranch (one floor house with full basement) featuring 1 1/2 or 2 full baths, a garage and oversized city yard. Georgian style homes and "split-levels) with three bedrooms on the second floor and a basement are common in this area and price range as well.  These are not huge houses but can provide adequate space for multiple family members.

Peterson Park sales area. Map generated on MREDLLC.com
36 homes sold over the same period last year in 2015 with a median price of only $310,000. Compare the last couple years with 2012 where 23 homes sold with a median price of about $240,000.  Median price of $240,000 climbed to $380,000 in just four years without higher-end new construction homes.

The highest sale thus far in 2016 is $690,000 at 6137 N Bernard St, Chicago, Illinois 60659.  The four bedrooms double lot home had been fully renovated.  The lowest sale price is $225,000 at 5828 N Drake Ave, Chicago, Illinois 60659. 

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