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Chicago City Wire

Thursday, October 17, 2019

Old Town home prices fall in October 2017

Real Estate

By Local Labs News Service | Nov 7, 2017


The median sale price of a home sold in October 2017 in Old Town, a Chicago neighborhood, fell by $40,500 while total sales decreased by 38.9%, according to BlockShopper.com.

In October 2017, there were 11 homes sold, with a median sale price of $294,000 - a 12.1% decrease over the $334,500 median sale price for the same period of the previous year. There were 18 homes sold in Old Town in October 2016.

The median sales tax in Old Town for 2017 was $4,623. In 2016, the median sales tax was $4,442. This marks an increase of 4.1%. 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 Old Town to other Chicago neighborhood with similar median sales prices in October 2017:

Neighborhood
Oct. 2017 Home Sales
Oct. 2016 Home Sales
% change (Total Home Sales)
Oct. 2017 Median Sales Price
Oct. 2016 Median Sales Price
% change (Median Sales Price)
North Mayfair
7
7
0%
$304,000
$237,500
28%
Edison Park
14
20
-30%
$302,500
$291,500
3.8%
Oriole Park
15
7
114.3%
$300,000
$266,000
12.8%
McKinley Park
10
14
-28.6%
$296,500
$208,500
42.2%
Streeterville
9
14
-35.7%
$295,000
$369,750
-20.2%
Old Town
11
18
-38.9%
$294,000
$334,500
-12.1%
Mayfair
9
9
0%
$285,000
$300,000
-5%
Buena Park
21
23
-8.7%
$280,000
$196,000
42.9%
Jefferson Park
31
30
3.3%
$275,000
$260,000
5.8%
Albany Park
54
47
14.9%
$274,750
$265,000
3.7%
Beverly
24
23
4.3%
$274,750
$249,000
10.3%

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