Some promising real estate sales information for Chicago and its surrounding suburb’s was released by Crain’s recently. The analysis included the actual number of homes sold, the median price of the homes that sold and the average time to sell compared to those same statistics from quarter one of 2016.
Rising to the top of the list for single family homes sold in Chicago was the Irving Park neighborhood. According to the article in Crain’s, written by Dennis Rodkin, “Irving Park’s volume of sales is up 6.6 percent, to 66 sales, and the median price sale price rose 8.6 percent, to $505,000. Houses sold 14 percent faster than a year ago, in an average of 102 days.”
Suburbs such as Glendale Heights, Oak Lawn and Joliet reported impressive increase in homes sales, significant rise in median price and a marked decrease in the time the homes spent on the market before receiving an offer. Specifically, Glendale Heights’ sales increased 4.8 percent and the median price rose 9.4 percent compared to the first quarter of 2016.
Read the entire article to see sales data for other Chicago neighborhoods and suburbs showing growth and improvement from last year.
Photo Credit: Sheila Scarborough