In January 2017, there were 27 homes sold, with a median sale price of $319,500 - a 20% increase over the $266,250 median sale price for the same period of the previous year. There were 18 homes sold in Norwood Park in January 2016.
The median sales tax in Norwood Park for 2017 was $5,021. In 2016, the median sales tax was $4,863. This marks an increase of 3.2%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 1.6%.
The following table compares Norwood Park to other Chicago neighborhood with similar median sales prices in January 2017:
| Neighborhood | Jan. 2017 Home Sales | Jan. 2016 Home Sales | % change (Total Home Sales) | Jan. 2017 Median Sales Price | Jan. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Albany Park | 32 | 33 | -3% | $328,750 | $256,000 | 28.4% |
| River North | 24 | 25 | -4% | $327,250 | $419,000 | -21.9% |
| North Park | 11 | 13 | -15.4% | $325,000 | $190,000 | 71.1% |
| Gold Coast | 54 | 65 | -16.9% | $323,750 | $379,000 | -14.6% |
| South Loop | 57 | 61 | -6.6% | $320,000 | $325,000 | -1.5% |
| Norwood Park | 27 | 18 | 50% | $319,500 | $266,250 | 20% |
| West Loop | 14 | 10 | 40% | $313,250 | $330,500 | -5.2% |
| Union Ridge | 6 | 4 | 50% | $312,500 | $229,500 | 36.2% |
| University Village / Little Italy | 11 | 12 | -8.3% | $310,000 | $340,000 | -8.8% |
| Mayfair | 4 | 10 | -60% | $302,500 | $260,000 | 16.3% |
| Edison Park | 12 | 8 | 50% | $300,000 | $265,000 | 13.2% |
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