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Chicago City Wire

Friday, April 26, 2024

Q1 real estate sales report: West Town

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Median prices rose in West Town over last year, and are up 36.2 percent over 10 years, adjusted for inflation, according to first quarter sales data collected by BlockShopper.com.

From January to March, 62 homes sold in West Town for a median price of $492,500. That's 1.2 percent higher than median home sale prices for the first quarter of 2017.

In the first quarter, 1 home in West Town was in foreclosure.

Median property tax for homeowners in West Town was $6,937.93 in 2016 according to tax data from that year. That means homeowners pay 1.7 percent of their home's value in taxes.

Statewide, Illinois homeowners pay an effective property tax rate of 2.22 percent, according to a recent analysis by ATTOM Data Solutions, which is the second-highest rate in the country, just behind New Jersey, where homeowners pay a tax rate of 2.28 percent.

West Town real estate: Q1 2009-2018
Properties sold
Median sale price
Change in sale price
2009
33
$361,530
-
2010
54
$333,735
-7.7%
2011
59
$329,960
-1.1%
2012
65
$307,925
-6.7%
2013
77
$329,400
7%
2014
74
$381,600
15.8%
2015
76
$424,000
11.1%
2016
73
$418,950
-1.2%
2017
63
$486,540
16.1%
2018
62
$492,500
1.2%

Median property tax
Median sale price
Effective property tax rate
2009
$4,284.84
$361,530
1.2%
2010
$6,122.17
$333,735
1.8%
2011
$6,324.79
$329,960
1.9%
2012
$6,286.88
$307,925
2%
2013
$5,352.40
$329,400
1.6%
2014
$6,127.44
$381,600
1.6%
2015
$7,359.37
$424,000
1.7%
2016
$6,937.92
$418,950
1.7%

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