From July through December of 2017, there were 47 homes sold, with a median sale price of $340,000 - a 21.9% increase over the $279,000 median sale price for the same period of the previous year. There were 52 homes sold in Mayfair in the second half of 2016.
The median sales tax in Mayfair for 2017 was $5,135. In 2016, the median sales tax was $4,966. This marks an increase of 3.4%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.5%.
The following table compares Mayfair to other Chicago neighborhood with similar median sales prices in the second half of 2017:
| Neighborhood | July - Dec. 2017 Home Sales | July - Dec. 2016 Home Sales | % change (Total Home Sales) | July - Dec. 2017 Median Sales Price | July - Dec. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Ravenswood | 232 | 227 | 2.2% | $370,750 | $391,500 | -5.3% |
| Avondale | 120 | 154 | -22.1% | $370,500 | $355,500 | 4.2% |
| Gold Coast | 470 | 471 | -0.2% | $359,500 | $400,000 | -10.1% |
| Old Town | 130 | 145 | -10.3% | $345,750 | $320,000 | 8% |
| West Loop | 90 | 76 | 18.4% | $342,000 | $336,750 | 1.6% |
| Mayfair | 47 | 52 | -9.6% | $340,000 | $279,000 | 21.9% |
| Bridgeport | 205 | 170 | 20.6% | $340,000 | $327,500 | 3.8% |
| Irving Park | 209 | 220 | -5% | $335,000 | $340,000 | -1.5% |
| Norwood Park | 194 | 161 | 20.5% | $333,000 | $326,000 | 2.1% |
| Near North | 191 | 204 | -6.4% | $332,500 | $320,000 | 3.9% |
| University Village / Little Italy | 116 | 116 | 0% | $329,000 | $322,500 | 2% |
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