From October through December of 2017, there were 21 homes sold, with a median sale price of $325,000 - a 41% increase over the $230,500 median sale price for the same period of the previous year. There were 15 homes sold in Heart of Chicago in the fourth quarter of 2016.
The median sales tax in Heart of Chicago for 2017 was $4,427.68. In 2016, the median sales tax was $4,230.50. This marks an increase of 4.7%. 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 Heart of Chicago to other Chicago neighborhood with similar median sales prices in the fourth quarter of 2017:
| Neighborhood | Oct. - Dec. 2017 Home Sales | Oct. - Dec. 2016 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2017 Median Sales Price | Oct. - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| University Village / Little Italy | 47 | 34 | 38.2% | $347,000 | $437,250 | -20.6% |
| Bridgeport | 109 | 74 | 47.3% | $340,000 | $317,500 | 7.1% |
| Norwood Park | 78 | 71 | 9.9% | $339,500 | $322,000 | 5.4% |
| South Loop | 195 | 184 | 6% | $330,000 | $324,000 | 1.9% |
| Ravenswood | 106 | 85 | 24.7% | $329,500 | $365,000 | -9.7% |
| Heart of Chicago | 21 | 15 | 40% | $325,000 | $230,500 | 41% |
| Pilsen | 35 | 34 | 2.9% | $324,500 | $300,000 | 8.2% |
| Mayfair | 26 | 23 | 13% | $324,250 | $300,000 | 8.1% |
| Edison Park | 43 | 48 | -10.4% | $322,500 | $305,000 | 5.7% |
| Irving Park | 85 | 92 | -7.6% | $316,000 | $293,000 | 7.8% |
| Old Town | 39 | 53 | -26.4% | $315,000 | $309,000 | 1.9% |
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