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Thursday, April 25, 2024

West Loop home prices fall in November 2018

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The median sale price of a home sold in November 2018 in West Loop, a Chicago neighborhood, fell by $127,500 while total sales decreased by 73.7%, according to BlockShopper.com.

In November 2018, there were five homes sold, with a median sale price of $307,500 - a 29.3% decrease over the $435,000 median sale price for the same period of the previous year. There were 19 homes sold in West Loop in November 2017.

The median sales tax in West Loop for the most recent year with available data, 2017, was $4,692, approximately 1.5% of the median home sale price for November 2018.

The following table compares West Loop to other Chicago neighborhood with similar median sales prices in November 2018:

NeighborhoodNov. 2018 Home SalesNov. 2017 Home Sales% change (Total Home Sales)Nov. 2018 Median Sales PriceNov. 2017 Median Sales Price% change (Median Sales Price)
Kenwood68-25%$325,000$216,25050.3%
Portage Park4164-35.9%$320,000$296,5007.9%
West Town1133-66.7%$315,000$465,000-32.3%
Gold Coast4158-29.3%$315,000$323,000-2.5%
Norwood Park21210%$313,000$350,000-10.6%
West Loop519-73.7%$307,500$435,000-29.3%
Near West Side1226-53.8%$300,000$400,000-25%
University Village / Little Italy816-50%$300,000$348,750-14%
Albany Park2441-41.5%$295,000$290,0001.7%
Heart of Chicago28-75%$295,000$291,0001.4%
South Loop 3654-33.3%$291,500$331,500-12.1%

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