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Monday, January 27, 2020

Austin home prices rise in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Re 6

The median sale price of a home sold in the first half of 2017 in Austin, a Chicago neighborhood, rose by $29,000 while total sales increased by 6.3%, according to BlockShopper.com.

From January through June of 2017, there were 305 homes sold, with a median sale price of $110,000 - a 35.8% increase over the $81,000 median sale price for the same period of the previous year. There were 287 homes sold in Austin in the first half of 2016.

The median sales tax in Austin for 2017 was $2,680. In 2016, the median sales tax was $2,611. This marks an increase of 2.7%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.4%.

The following table compares Austin 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)
Wrightwood
55
49
12.2%
$129,000
$175,000
-26.3%
Little Village
123
107
15%
$128,000
$85,000
50.6%
Hegewisch
38
59
-35.6%
$125,000
$93,000
34.4%
East Merrionette Park
13
13
0%
$125,000
$100,000
25%
Chatham
124
110
12.7%
$119,000
$81,000
46.9%
Austin
305
287
6.3%
$110,000
$81,000
35.8%
Oakland
45
29
55.2%
$110,000
$107,500
2.3%
West Hometown
22
21
4.8%
$105,000
$110,000
-4.5%
Marquette Park
174
157
10.8%
$100,500
$85,500
17.5%
Brainerd
171
159
7.5%
$100,000
$63,000
58.7%
Chicago Lawn
49
65
-24.6%
$100,000
$84,500
18.3%

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