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Thursday, April 25, 2024

West Loop home prices fall in the second half of 2018

Realestate1

The median sale price of a home sold in the second half of 2018 in West Loop, a Chicago neighborhood, fell by $4,500 while total sales decreased by 30%, according to BlockShopper.com.

From July through December of 2018, there were 63 homes sold, with a median sale price of $337,500 - a 1.3% decrease over the $342,000 median sale price for the same period of the previous year. There were 90 homes sold in West Loop in the second half of 2017.

The median sales tax in West Loop for the most recent year with available data, 2017, was $4,692, approximately 1.4% of the median home sale price for the second half of 2018.

The following table compares West Loop to other Chicago neighborhood with similar median sales prices in the second half of 2018:

NeighborhoodJuly - Dec. 2018 Home SalesJuly - Dec. 2017 Home Sales% change (Total Home Sales)July - Dec. 2018 Median Sales PriceJuly - Dec. 2017 Median Sales Price% change (Median Sales Price)
Irving Park 159209-23.9%$380,000$335,00013.4%
Bridgeport142205-30.7%$377,000$340,00010.9%
Near West Side141211-33.2%$365,000$380,000-3.9%
Edison Park82100-18%$343,750$318,5007.9%
Gold Coast359470-23.6%$338,000$359,500-6%
West Loop6390-30%$337,500$342,000-1.3%
Jefferson Park153211-27.5%$326,000$285,00014.4%
University Village / Little Italy78116-32.8%$320,000$329,000-2.7%
Old Town114130-12.3%$320,000$345,750-7.4%
Norwood Park141194-27.3%$318,000$333,000-4.5%
Pilsen5764-10.9%$315,000$322,250-2.2%

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