Monday, October 29, 2018

How scary are Gold Coast home sales this year?

Looks cute then you look up! All photos Eric Rojas, Broker, Kale Realty

This one creeped out the kids!

Some pretty with the scary.
We've spent a lot of time in Gold Coast with clients and family activities over the past month. Gold Coast residents enjoy scaring you around Halloween time.  But are they enjoying real estate sales in the neighborhood?  Let's find out!

Sales numbers from the above above shaded area in the Gold Coast neighborhood. (Excludes Chicago Avenue and La Salle Blvd not considered in the neighborhood boundaries)

Gold Coast Single family home sales (including row homes) January 1st to October 26th, 2018
My kids really liked the animatronic dinosaur!
Fifteen single family homes have sold this year in Gold Coast for a median price of about $2,250,000.  The highest priced sold home is 1440 N Dearborn Parkway, Chicago IL 60610 for $4,625,000. The lowest priced home to sell is 57 West Burton, Chicago IL 60610 for $1,083,000.

In 2017, fourteen single family homes sold with a median price around $2,000,000.  However, the highest home sold for $7,500,000.  Go back five years to 2013 and seventeen homes sold over the same period with a median price right around $2,000,000.  Despite the very unique high-end properties of this neighborhood the median price remained fairly consistent over the last five year real estate run up in Chicago Near North and North Sides.

Snap shot:
2018, fifteen homes sold with a median price of $2,250,000
2017, fourteen homes sold with a median price about $2,000,000
2016, sixteen homes sold with a median price about $2,030,000
2015, eight homes sold with a median price about $2,100,000
2014, nineteen homes sold with a median price about $2,600,000 (most homes sold and highest median in past five years)
2013, seventeen homes sold with a median price about $2,000,000

Gold Coast condo sales this year

"Backyard" view of the Gold Coast from a hallway window at Latin School.

894 condo units have sold so far this year with a median price of $390,000. Wow, seems like a lot of units sold!  It is!  Over 100 units more sold than in the same period 2017.  The highest sold unit so far in 2018 is the eye-popping $12,100,000 at 9 West Walton. Oh, and it is raw unfinished space.  The lowest sold condo is 201 East Delaware Place Unit 908 for $99,995. The hotel condo unit was bought cash.  $99K to $12 million in the same neighborhood this year.

In 2017 over the same period 784 units sold with a median price of $377,900.
2016, 803 units sold for a median price of $420,000.
2015, 777 units sold with a median price about $390,000
I'd give some more years but my Internet is acting up and I need to move on with other work today!

We don't see the wild price run up in Gold Coast from five years ago to the current year.  I think this is consistent with most areas (city or suburb) that feature really high-end, unique properties. 

Beautiful Gold Coast row house.

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