Interest rates are rising, bull markets are on ice, and yet the housing market seems to only be going in one direction. Since the new year I’ve had two open houses with 100+ people each. New construction 1,500 f² condos starting at $750,000 in Lakeview or a 6.36 acre property in Barrington priced the same. Legacy media will tell you that everything has been up, up, up, but what does that look like locally? Here is an interactive 3 year breakdown of the median average sales price in the markets I work most:
Lincoln Park Single Family Homes
9.1% increase of the Median Sales Price over the last 12 months
Lincoln Park Condos
2.1% increase of the Median Sales Price over the last 12 months
Lakeview Single Family Homes
2.3% increase of the Median Sales Price over the last 12 months
Lakeview Condos
6.0% decrease of the Median Sales Price over the last 12 months
Near North Side (Gold Coast / Old Town / River North / Streeterville / Goose Island / Cabrini Green) Single Family Homes
42.8% increase of the Median Sales Price over the last 12 months
Near North Side (Gold Coast / Old Town / River North / Streeterville / Goose Island / Cabrini Green) Condos
2.4% increase of the Median Sales Price over the last 12 months
West Town Single Family Homes
3.5% increase of the Median Sales Price over the last 12 months
West Town Condos
0.2% increase of the Median Sales Price over the last 12 months
West Loop Condos
1.2% increase of the Median Sales Price over the last 12 months
The median sales price only paints part of the picture. If you’d like to know all the stats below for your market reach out to John Grafft for a property specific analysis.
John Grafft is an Award-Winning Realtor with Compass specializing in luxury Chicago real estate. Click here and watch his weekly videos of different Chicago properties.
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