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Saturday, January 18, 2020

Chinatown home prices rise in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Realestate1

The median sale price of a home sold in the first half of 2017 in Chinatown, a Chicago neighborhood, rose by $15,000 while total sales increased by 30.8%, according to BlockShopper.com.

From January through June of 2017, there were 17 homes sold, with a median sale price of $255,000 - a 6.3% increase over the $240,000 median sale price for the same period of the previous year. There were 13 homes sold in Chinatown in the first half of 2016.

The median sales tax in Chinatown for 2017 was $4,063. In 2016, the median sales tax was $3,907. This marks an increase of 4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.6%.

The following table compares Chinatown 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)
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%
Beverly
144
106
35.8%
$267,750
$264,750
1.1%
Chinatown
17
13
30.8%
$255,000
$240,000
6.3%
Belmont/Cragin
228
218
4.6%
$250,000
$216,250
15.6%
Uptown
252
228
10.5%
$245,000
$265,000
-7.5%
Hermosa
103
118
-12.7%
$244,000
$193,000
26.4%
Dunning
323
306
5.6%
$240,000
$221,500
8.4%
Boystown
392
209
87.6%
$237,250
$260,000
-8.8%

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