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Monday, January 27, 2020

O'Hare home prices rise in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Re 5

The median sale price of a home sold in the second half of 2017 in O'Hare, a Chicago neighborhood, rose by $27,500 while total sales decreased by 8.2%, according to BlockShopper.com.

From July through December of 2017, there were 56 homes sold, with a median sale price of $262,500 - a 11.7% increase over the $235,000 median sale price for the same period of the previous year. There were 61 homes sold in O'Hare in the second half of 2016.

The median sales tax in O'Hare for 2017 was $4,045. In 2016, the median sales tax was $4,137. This marks an decrease of 2.2%. 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 O'Hare 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)
Albany Park
297
314
-5.4%
$285,000
$275,000
3.6%
Jefferson Park
211
202
4.5%
$285,000
$291,500
-2.2%
Beverly
138
129
7%
$282,250
$275,000
2.6%
Big Oaks
53
43
23.3%
$280,000
$275,000
1.8%
Uptown
240
271
-11.4%
$268,000
$265,000
1.1%
O'Hare
56
61
-8.2%
$262,500
$235,000
11.7%
Union Ridge
53
47
12.8%
$262,000
$270,000
-3%
Oriole Park
62
57
8.8%
$259,500
$245,000
5.9%
Hermosa
113
115
-1.7%
$255,000
$229,000
11.4%
Belmont/Cragin
225
220
2.3%
$255,000
$236,250
7.9%
Boystown
247
219
12.8%
$252,500
$253,500
-0.4%

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