Friday, October 13, 2017

What's up with Lincoln Square home sales? The price!

Agents like nothing more than seeing my four kids entering an open house! The familia checks out a new gut renovation  open house on the 2200 block of West Leland priced at $1,049,000.
Lincoln Square continues to be more popular than ever for home buyers.  The addition and enhancement of public and private schools, improved infrastructure and increased (and trendy) entertainment options have made palpable changes to neighborhood once slow to develop. I suspect there is a higher number of million dollar home sales than in past years as new construction homes push the envelop for this once working class enclave. Let's take a look.

Lincoln Square single family home sales
111 Lincoln Square single family homes sold so far in 2017 with a median price of about $688,000.  25 of the 111 home sales have been for over $1 million.  Three of those homes sold for over $2 million.  
New retail build-outs and infrastructure improvements have gone hand and hand with a new class of luxury builds.

In 2016, 83 single family homes sold over the same period with a median price of about $655,000. 16 of those sold homes sold for over $1 million. One of those homes sold over $2 million.

Over the same period in 2007 and 2008 at the height of the bubble a combined 17 homes sold over $1 million with the highest sale about $1.5 million.

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