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Monday, January 27, 2020

River West home prices rise in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Re 8

The median sale price of a home sold in the first half of 2017 in River West, a Chicago neighborhood, rose by $67,000 while total sales decreased by 8%, according to BlockShopper.com.

From January through June of 2017, there were 69 homes sold, with a median sale price of $442,000 - a 17.9% increase over the $375,000 median sale price for the same period of the previous year. There were 75 homes sold in River West in the first half of 2016.

The median sales tax in River West for 2017 was $5,355. In 2016, the median sales tax was $5,078. This marks an increase of 5.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.2%.

The following table compares River West to other Chicago neighborhood with similar median sales prices in the first half of 2017:

Neighborhood
Jan. - June 2017 Home Sales
Jan. - June 2016 Home Sales
% change (Total Home Sales)
Jan. - June 2017 Median Sales Price
Jan. - June 2016 Median Sales Price
% change (Median Sales Price)
Noble Square
92
80
15%
$512,000
$455,000
12.5%
Bucktown
271
208
30.3%
$502,000
$531,250
-5.5%
Wrigleyville
155
173
-10.4%
$500,000
$450,000
11.1%
Lincoln Square
31
26
19.2%
$490,000
$515,000
-4.9%
West Town
213
204
4.4%
$470,000
$420,000
11.9%
River West
69
75
-8%
$442,000
$375,000
17.9%
Lakeview
844
688
22.7%
$432,500
$447,000
-3.2%
Goose Island
73
49
49%
$430,000
$396,500
8.4%
Andersonville
103
91
13.2%
$425,000
$406,000
4.7%
Edgebrook
61
53
15.1%
$425,000
$460,000
-7.6%
Streeterville
73
54
35.2%
$400,000
$410,000
-2.4%

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