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Thursday, January 23, 2020

Pilsen home prices rise in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Realestate4

The median sale price of a home sold in the second half of 2017 in Pilsen, a Chicago neighborhood, rose by $19,750 while total sales decreased by 3%, according to BlockShopper.com.

From July through December of 2017, there were 64 homes sold, with a median sale price of $322,250 - a 6.5% increase over the $302,500 median sale price for the same period of the previous year. There were 66 homes sold in Pilsen in the second half of 2016.

The median sales tax in Pilsen for 2017 was $4,594. In 2016, the median sales tax was $4,342. This marks an increase of 5.8%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.4%.

The following table compares Pilsen 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)
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%
Chinatown
23
22
4.5%
$320,000
$191,500
67.1%
Edison Park
100
101
-1%
$318,500
$310,000
2.7%
Kenwood
56
67
-16.4%
$315,750
$235,000
34.4%
Portage Park
361
394
-8.4%
$312,000
$280,750
11.1%
Heart of Chicago
42
45
-6.7%
$307,500
$239,000
28.7%

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