Quick look! North Center real estate sales 2018

Anecdotally speaking there were far less new homes actively under construction along my walk than in the past few seasons. Usually there are crews in the streets and torn up sidewalks on every North Center block.  Fewer construction sites, but activity was not totally absent! All photos Eric Rojas, Broker, Kale Realty.

I was in North Center last week to evaluate a couple properties owned by a landlord we work with. Here's a look at some of the real estate sales numbers for the North Center community area this year.

193 single family homes have sold from January 1st to September 30th this year.  The median price of a closed single family home is about $1,045,000.  The highest priced sold home is 3530 North Seeley in Roscoe Village for $2,650,000.   The double lot luxury custom home was built in 2011.  The lowest priced single family home to sell is 2458 West Berenice for $300,000 cash.  The original bungalow was torn down to build a new house (not sure if it is completed yet or if it will hit the open market). 

Last year over the same period 214 single family homes sold with a median price of $1,095,000.  In 2016, 180 homes sold with a median price of $1,050,000.  Going back five years to 2013, 209 single family homes sold with a median price about $880,000.  Sales and prices have leveled off the last three years after a large spike from around 2012 where median price was about $800,000. 

A rare row of intact multi-unit apartment buildings in North Center.

North Center is also infamous for the number of small multi-units (usually two-flats) that are bought and either converted to single family homes or torn down to build a new house.

57 small multi-unit buildings (two-four units) have sold  thus far in 2018 with a median price about $620,000.  Five years ago in 2013, 70 buildings sold with a median price of $575,000.

This year, 38 of those buildings are two flats with a median sales price of $560,000.
15 of the sale were three-flats with a median price of about $615,000.
4 sales were four unit buildings sold from $675,000 to $1,173,500.

There is a healthy stock of older original frame homes in the neighborhood.  Most will be re-developed when sold.  It rare in the neighborhood from someone to just buy an old home and live in it.  The market numbers just don't favor that type of purchase.

One of the first major, larger new construction condo developments in the early 2000s condo boom at the intersection of Lincoln and Damen Avenues.

318 condo units have sold from January 1st to September 30th this year.  The median price of a condo is about $430,000.  The highest sold condo unit this year is 3844 North Damen Unit 1 for $960,000.  The tricked out new construction duplex down is located in Bell school district.  In 2013, 314 condo units sold over the same period with a median price about $349,000.

Please contact us if you are looking to buy or sell North Center condos, houses or multi-units.