Quantcast

Chicago City Wire

Monday, November 25, 2024

University Village / Little Italy home prices fall in the first quarter of 2017

Re 7

The median sale price of a home sold in the first quarter of 2017 in University Village / Little Italy, a Chicago neighborhood, fell by $17,000 while total sales decreased by 21.9%, according to BlockShopper.com.

From January through March of 2017, there were 25 homes sold, with a median sale price of $308,000 - a 5.2% decrease over the $325,000 median sale price for the same period of the previous year. There were 32 homes sold in University Village / Little Italy in the first quarter of 2016.

The median sales tax in University Village / Little Italy for 2017 was $5,049.82. In 2016, the median sales tax was $4,643.80. This marks an increase of 8.7%. 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 University Village / Little Italy to other Chicago neighborhood with similar median sales prices in the first quarter of 2017:

NeighborhoodJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
Old Town624440.9%$327,500$323,0001.4%
Norwood Park754663%$318,000$266,25019.4%
West Loop382740.7%$315,750$296,0006.7%
Irving Park 7797-20.6%$312,000$280,00011.4%
North Park2930-3.3%$308,000$258,75019%
University Village / Little Italy2532-21.9%$308,000$325,000-5.2%
The Loop282416.7%$305,000$193,50057.6%
Ravenswood 11744165.9%$295,000$346,250-14.8%
Sauganash1824-25%$295,000$303,500-2.8%
Union Ridge1520-25%$295,000$251,25017.4%
Streeterville3315120%$294,000$380,000-22.6%

MORE NEWS