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Monday, January 27, 2020

Old Town home prices rise in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Realestate2

The median sale price of a home sold in the first half of 2017 in Old Town, a Chicago neighborhood, rose by $23,500 while total sales increased by 20.3%, according to BlockShopper.com.

From January through June of 2017, there were 148 homes sold, with a median sale price of $363,500 - a 6.9% increase over the $340,000 median sale price for the same period of the previous year. There were 123 homes sold in Old Town in the first half of 2016.

The median sales tax in Old Town for 2017 was $4,623. In 2016, the median sales tax was $4,442. This marks an increase of 4.1%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.3%.

The following table compares Old Town 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)
Logan Square
542
500
8.4%
$385,000
$377,000
2.1%
Near West Side
199
189
5.3%
$376,000
$325,000
15.7%
Greektown
22
10
120%
$375,000
$455,000
-17.6%
Sauganash
58
64
-9.4%
$371,500
$337,750
10%
Avondale
114
135
-15.6%
$363,750
$310,000
17.3%
Old Town
148
123
20.3%
$363,500
$340,000
6.9%
South Loop
469
477
-1.7%
$345,000
$320,000
7.8%
Gold Coast
467
457
2.2%
$342,000
$396,000
-13.6%
Ravenswood
270
145
86.2%
$340,750
$352,000
-3.2%
Irving Park
207
236
-12.3%
$340,000
$298,000
14.1%
Pilsen
71
64
10.9%
$332,000
$285,000
16.5%

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