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Monday, February 24, 2020

Oakland home prices fall in the third quarter of 2017

Real Estate

By Local Labs News Service | Oct 14, 2017

Realestate4

The median sale price of a home sold in the third quarter of 2017 in Oakland, a Chicago neighborhood, fell by $24,250 while total sales decreased by 16.7%, according to BlockShopper.com.

From July through September of 2017, there were 15 homes sold, with a median sale price of $102,000 - a 19.2% decrease over the $126,250 median sale price for the same period of the previous year. There were 18 homes sold in Oakland in the third quarter of 2016.

The median sales tax in Oakland for 2017 was $1,443.17. In 2016, the median sales tax was $1,342.80. This marks an increase of 7.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.

The following table compares Oakland 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)
Austin
171
151
13.2%
$130,000
$97,000
34%
West Hometown
22
18
22.2%
$123,750
$106,000
16.7%
Chatham
57
51
11.8%
$122,000
$110,000
10.9%
East Side
53
57
-7%
$121,000
$87,500
38.3%
Hegewisch
27
30
-10%
$110,500
$107,000
3.3%
Oakland
15
18
-16.7%
$102,000
$126,250
-19.2%
East Garfield Park
55
55
0%
$100,000
$101,000
-1%
Gresham
153
148
3.4%
$100,000
$60,500
65.3%
Chicago Lawn
35
29
20.7%
$95,000
$120,000
-20.8%
Lawndale
115
80
43.8%
$95,000
$73,250
29.7%
Burnside
71
48
47.9%
$93,000
$44,250
110.2%

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