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Chicago City Wire

Thursday, October 17, 2019

Albany Park home prices rise in December 2017

Real Estate

By Local Labs News Service | Jan 7, 2018


The median sale price of a home sold in December 2017 in Albany Park, a Chicago neighborhood, rose by $70,000 while total sales decreased by 16.2%, according to BlockShopper.com.

In December 2017, there were 31 homes sold, with a median sale price of $320,000 - a 28% increase over the $250,000 median sale price for the same period of the previous year. There were 37 homes sold in Albany Park in December 2016.

The median sales tax in Albany Park for 2017 was $5,051. In 2016, the median sales tax was $4,881. This marks an increase of 3.5%. 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 Albany Park to other Chicago neighborhood with similar median sales prices in December 2017:

Neighborhood
Dec. 2017 Home Sales
Dec. 2016 Home Sales
% change (Total Home Sales)
Dec. 2017 Median Sales Price
Dec. 2016 Median Sales Price
% change (Median Sales Price)
Bridgeport
31
24
29.2%
$340,000
$312,500
8.8%
Chinatown
3
1
200%
$336,500
$185,000
81.9%
Near North
26
28
-7.1%
$331,250
$370,000
-10.5%
Norwood Park
25
28
-10.7%
$327,500
$281,500
16.3%
Edison Park
14
11
27.3%
$324,000
$310,000
4.5%
Albany Park
31
37
-16.2%
$320,000
$250,000
28%
Mayfair
8
10
-20%
$318,000
$340,000
-6.5%
Beverly
18
17
5.9%
$317,500
$297,500
6.7%
Old Town
11
18
-38.9%
$315,000
$389,250
-19.1%
Big Oaks
6
8
-25%
$301,500
$314,500
-4.1%
South Loop
64
55
16.4%
$298,750
$317,000
-5.8%

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