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Friday, January 17, 2020

Irving Park home prices fall in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Realestate5

The median sale price of a home sold in the second half of 2017 in Irving Park, a Chicago neighborhood, fell by $5,000 while total sales decreased by 5%, according to BlockShopper.com.

From July through December of 2017, there were 209 homes sold, with a median sale price of $335,000 - a 1.5% decrease over the $340,000 median sale price for the same period of the previous year. There were 220 homes sold in Irving Park in the second half of 2016.

The median sales tax in Irving Park for 2017 was $5,632. In 2016, the median sales tax was $5,468. This marks an increase of 3%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.7%.

The following table compares Irving Park 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)
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%
South Loop
460
518
-11.2%
$325,000
$327,250
-0.7%
Pilsen
64
66
-3%
$322,250
$302,500
6.5%

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