Eric Rojas, Chicago Real Estate Broker

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Thursday, March 23, 2023

Lincolnwood: Cheap gas, great bagels annnnnnd... single family home sales!

 

New York Bagel & Bialy located at 4741 West Touhy Avenue, Lincolnwood IL 60712 is a destination worth going "out-of your-way". It's also a convenient stop before hopping on the Edens Expressway to the North Shore or Wisconsin. Just check out the photos of the food!

I often find myself crossing the border to Lincolnwood.  Hey, there's a Home Depot, Panera, cheap BP gas station (with an amazing Jewish deli!) and many shops a handful of minutes from my house.  Not to mention one of the best bagel joints I've ever been to... NYB&B!

I mostly walk/ bike ride around my Lincoln Square neighborhood.  When I drive for errands I often go north to the Lincolnwood BP gas station at 6599 N Lincoln Avenue. It has the best prices... and an awesome deli inside the station. Locals know!

There are houses too! Occasionally we have Chicago clients interested in relocating to Lincolnwood.  Let's take a look at recent single family home sales.  

Lincolnwood single family homes can run on the elaborate side but much of the town is filled with modest brick split-levels, raised ranch homes and Georgians.

Lincolnwood single family home sales January 1st through November 25th

103 single family homes have closed from January 1st to December 31st, 2022.  The median price of a sold house was $535,000. That can get you a good condition three or four bedrooms house of varying size and location around town.

153 single family homes closed in 2021 with a median price of $455,000. Despite the mortgage interest rate hikes over the year median price increased at a large margin in 2022.
 
 


Slow roll: February 2023 home sales in Chicago

 


As expected Chicago over-all home sales over the 77 Chicago community areas were down year to year in February 2023. Important to most home sellers and buyers is median price slipped 3.1% year to year.  We know March has seen a couple strong weeks due to a dip in interest rates a couple months ago. However, its expected prices will remain flat for March.


  • 1,218 properties were sold in the City of Chicago in February 2023. This is a 36.7% decrease from February 2022.

  • The median sales price in the City of Chicago for February 2023 was $310,000, a 3.1% decrease from February 2022.

  • The City of Chicago saw listings average 94 days on the market until contract, which is a 2.5% increase from February 2022.
Of course not all market areas are the same.  Lincoln Square single family home median sales price was up 17% in February year over year.  Lake View condo median price was up in February 3.5%.  


I gather stats from the Chicago Association of Realtors and MREDllc.com (our area MLS).