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Thursday, January 23, 2020

Marquette Park home prices rise in the second half of 2017

Real Estate

By Local Labs News Service | Jan 14, 2018

Re 11

The median sale price of a home sold in the second half of 2017 in Marquette Park, a Chicago neighborhood, rose by $23,000 while total sales increased by 26.1%, according to BlockShopper.com.

From July through December of 2017, there were 174 homes sold, with a median sale price of $129,000 - a 21.7% increase over the $106,000 median sale price for the same period of the previous year. There were 138 homes sold in Marquette Park in the second half of 2016.

The median sales tax in Marquette Park for 2017 was $2,218. In 2016, the median sales tax was $2,198. This marks an increase of 0.9%. 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 Marquette 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)
Austin
340
273
24.5%
$138,250
$90,000
53.6%
East Merrionette Park
17
24
-29.2%
$136,000
$116,750
16.5%
Little Village
156
136
14.7%
$135,000
$94,500
42.9%
Chicago Lawn
64
68
-5.9%
$134,500
$92,500
45.4%
Canaryville/Fuller Park
53
49
8.2%
$134,000
$150,000
-10.7%
Marquette Park
174
138
26.1%
$129,000
$106,000
21.7%
Washington Park
48
43
11.6%
$127,500
$65,000
96.2%
Oakland
30
33
-9.1%
$122,750
$110,000
11.6%
East Side
104
101
3%
$122,000
$95,000
28.4%
South Shore
207
192
7.8%
$120,500
$73,750
63.4%
Lawndale
230
169
36.1%
$119,500
$70,000
70.7%

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