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Chicago City Wire

Tuesday, January 21, 2020

Albany Park home prices rise in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Re 9

The median sale price of a home sold in the first half of 2017 in Albany Park, a Chicago neighborhood, rose by $24,500 while total sales increased by 15.8%, according to BlockShopper.com.

From January through June of 2017, there were 323 homes sold, with a median sale price of $287,000 - a 9.3% increase over the $262,500 median sale price for the same period of the previous year. There were 279 homes sold in Albany Park in the first half of 2016.

The median sales tax in Albany Park for 2017 was $5,051. In 2016, the median sales tax was $4,881. This marks an increase of 3.5%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.8%.

The following table compares Albany Park 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)
The Loop
65
62
4.8%
$310,000
$240,000
29.2%
North Mayfair
40
39
2.6%
$305,000
$260,000
17.3%
Portage Park
390
371
5.1%
$303,500
$260,500
16.5%
Jefferson Park
182
168
8.3%
$300,500
$272,000
10.5%
Union Ridge
31
38
-18.4%
$291,000
$262,000
11.1%
Albany Park
323
279
15.8%
$287,000
$262,500
9.3%
Big Oaks
44
39
12.8%
$285,000
$273,000
4.4%
O'Hare
66
59
11.9%
$279,000
$210,000
32.9%
Kenwood
57
50
14%
$276,000
$219,000
26%
Humboldt Park
286
278
2.9%
$270,000
$230,000
17.4%
Oriole Park
56
55
1.8%
$268,500
$212,500
26.4%

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