Friday, March 11, 2022

Lincoln Square home sales (new construction pushes up price-point)


Green wind screens and new construction are the norm around Lincoln Square, Chicago. Single family home construction and prices have been soaring. Pictured is one of three homes under construction on West Ainslie near Lincoln Ave. The homes have 165' long lots. (Photos Eric Rojas, Broker, Kale Realty)

Home Sales This Year

28 single family homes have closed in Lincoln Square from January 1st to March 10th of this year.  The median price of a closed home during this time is $784,000. That median price isn't eye popping for the area... BUT 12 of the homes closed sold for over $1M and one home sold for over $2M.   

Currently 22 single family homes are under contract with a median asking price of $1.1M (much higher than the $784,000 closed median price so far this year). 13 of the 22 homes under contract are listed over $1M and one is $2.45M.

A two-flat building sits between newly built homes on West Winona of Lincoln Square.  The house  pictured on the right sits on          a 30'x150' lot.

I know of over a dozen new construction homes in Lincoln Square currently under contract from $1.395M to $2M. Many of these new construction homes under contract are not listed (shown) on the MLS.   We'll probably see a record average price and record median price for homes by the end of 2022.

No comments: