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Chicago City Wire

Friday, September 27, 2024

O'Hare home prices fall in January 2017

Re 10

The median sale price of a home sold in January 2017 in O'Hare, a Chicago neighborhood, fell by $114,500 while total sales decreased by 42.9%, according to BlockShopper.com.

In January 2017, there were four homes sold, with a median sale price of $244,500 - a 31.9% decrease over the $359,000 median sale price for the same period of the previous year. There were seven homes sold in O'Hare in January 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 1.7%.

The following table compares O'Hare to other Chicago neighborhood with similar median sales prices in January 2017:

NeighborhoodJan. 2017 Home SalesJan. 2016 Home Sales% change (Total Home Sales)Jan. 2017 Median Sales PriceJan. 2016 Median Sales Price% change (Median Sales Price)
Portage Park564914.3%$267,500$255,0004.9%
Chinatown4333.3%$262,500$225,00016.7%
Buena Park221546.7%$261,500$224,00016.7%
North Mayfair511-54.5%$256,000$338,000-24.3%
Uptown342536%$252,000$230,0009.6%
O'Hare47-42.9%$244,500$359,000-31.9%
Dunning564330.2%$240,000$200,00020%
Humboldt Park 3840-5%$240,000$155,50054.3%
Beverly 1719-10.5%$235,000$234,5000.2%
Old Town231735.3%$231,500$356,000-35%
The Loop710-30%$230,000$186,00023.7%

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