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Washington Heights home prices fall in the first half of 2017

Real Estate

By Local Labs News Service | Jul 14, 2017

Realestate3

The median sale price of a home sold in the first half of 2017 in Washington Heights, a Chicago neighborhood, fell by $16,250 while total sales increased by 53.6%, according to BlockShopper.com.

From January through June of 2017, there were 43 homes sold, with a median sale price of $71,000 - a 18.6% decrease over the $87,250 median sale price for the same period of the previous year. There were 28 homes sold in Washington Heights in the first half of 2016.

The median sales tax in Washington Heights for 2017 was $1,800. In 2016, the median sales tax was $1,800, as well. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.5%.

The following table compares Washington Heights 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)
Lawndale
176
194
-9.3%
$86,500
$65,000
33.1%
South Shore
189
194
-2.6%
$85,000
$66,750
27.3%
Calumet Heights
193
154
25.3%
$84,000
$100,750
-16.6%
Washington Park
36
38
-5.3%
$81,500
$87,000
-6.3%
Gresham
268
276
-2.9%
$75,000
$71,750
4.5%
Washington Heights
43
28
53.6%
$71,000
$87,250
-18.6%
Greater Grand Crossing
198
201
-1.5%
$70,000
$47,500
47.4%
Burnside
109
117
-6.8%
$63,000
$57,000
10.5%
South Chicago
125
124
0.8%
$60,000
$52,750
13.7%
Back of the Yards
107
102
4.9%
$51,000
$40,000
27.5%
Roseland/Pullman
232
198
17.2%
$48,250
$36,000
34%

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