From January through March of 2017, there were 75 homes sold, with a median sale price of $318,000 - a 19.4% increase over the $266,250 median sale price for the same period of the previous year. There were 46 homes sold in Norwood Park in the first quarter of 2016.
The median sales tax in Norwood Park for 2017 was $5,020.66. In 2016, the median sales tax was $4,862.60. This marks an increase of 3.3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.6%.
The following table compares Norwood Park to other Chicago neighborhood with similar median sales prices in the first quarter of 2017:
| Neighborhood | Jan. - Mar. 2017 Home Sales | Jan. - Mar. 2016 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2017 Median Sales Price | Jan. - Mar. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| South Loop | 179 | 194 | -7.7% | $350,000 | $308,250 | 13.5% |
| Pilsen | 27 | 28 | -3.6% | $342,500 | $272,500 | 25.7% |
| Gold Coast | 172 | 178 | -3.4% | $335,000 | $392,500 | -14.6% |
| Edgebrook | 24 | 23 | 4.3% | $330,000 | $395,000 | -16.5% |
| Old Town | 62 | 44 | 40.9% | $327,500 | $323,000 | 1.4% |
| Norwood Park | 75 | 46 | 63% | $318,000 | $266,250 | 19.4% |
| West Loop | 38 | 27 | 40.7% | $315,750 | $296,000 | 6.7% |
| Irving Park | 77 | 97 | -20.6% | $312,000 | $280,000 | 11.4% |
| North Park | 29 | 30 | -3.3% | $308,000 | $258,750 | 19% |
| University Village / Little Italy | 25 | 32 | -21.9% | $308,000 | $325,000 | -5.2% |
| The Loop | 28 | 24 | 16.7% | $305,000 | $193,500 | 57.6% |
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