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Chicago City Wire

Tuesday, February 18, 2020

Gold Coast home prices fall in the third quarter of 2017

Real Estate

By Local Labs News Service | Oct 14, 2017

Re 5

The median sale price of a home sold in the third quarter of 2017 in Gold Coast, a Chicago neighborhood, fell by $69,000 while total sales decreased by 7.5%, according to BlockShopper.com.

From July through September of 2017, there were 273 homes sold, with a median sale price of $350,000 - a 16.5% decrease over the $419,000 median sale price for the same period of the previous year. There were 295 homes sold in Gold Coast in the third quarter of 2016.

The median sales tax in Gold Coast for 2017 was $5,649.75. In 2016, the median sales tax was $5,327.90. This marks an increase of 6%. 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 Gold Coast to other Chicago neighborhood with similar median sales prices in the third quarter of 2017:

Neighborhood
July - Sept. 2017 Home Sales
July - Sept. 2016 Home Sales
% change (Total Home Sales)
July - Sept. 2017 Median Sales Price
July - Sept. 2016 Median Sales Price
% change (Median Sales Price)
Ravenswood
126
142
-11.3%
$382,500
$400,000
-4.4%
Avondale
72
86
-16.3%
$380,000
$348,750
9%
Near West Side
109
125
-12.8%
$380,000
$345,000
10.1%
Old Town
91
92
-1.1%
$377,500
$320,750
17.7%
Sauganash
35
38
-7.9%
$360,000
$425,250
-15.3%
Gold Coast
273
295
-7.5%
$350,000
$419,000
-16.5%
Irving Park
124
128
-3.1%
$349,500
$374,000
-6.6%
Mayfair
21
29
-27.6%
$340,000
$250,000
36%
Bridgeport
96
96
0%
$339,000
$337,500
0.4%
West Loop
48
45
6.7%
$336,000
$350,000
-4%
Kenwood
31
43
-27.9%
$334,000
$254,500
31.2%

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