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Monday, November 25, 2024

What happened to the median home price in Norwood Park during April?

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The median sale price of a home sold in April in Norwood Park, a Chicago neighborhood, rose by $55,750 while total sales decreased by 82.6 percent, according to BlockShopper.com.

In April, there were eight homes sold, with a median sale price of $394,500 - a 16.5 percent increase over the $338,750 median sale price for the same period of the previous year. There were 46 homes sold in Norwood Park in April 2021.

The median sales tax in Norwood Park for the most recent year with available data, 2019, was $5,663, approximately 1.4 percent of the median home sale price for April.

The following table compares Norwood Park to other Chicago neighborhood with similar median sale prices in April:

NeighborhoodApril 2022 Home SalesApril 2021 Home Sales% change (Total Home Sales)April 2022 Median Sales PriceApril 2021 Median Sales Price% change (Median Sales Price)
Edgebrook512-58.3$438,000$532,500-17.7
Edison Park628-78.6$432,500$336,50028.5
The Loop220-90$428,000$322,50032.7
Near West Side654-88.9$425,000$445,000-4.5
O'Hare113-92.3$399,000$188,500111.7
Norwood Park846-82.6$394,500$338,75016.5
Portage Park1179-86.1$386,000$370,0004.3
West Garfield Park322-86.4$381,000$150,750152.7
Uptown663-90.5$379,000$315,00020.3
Belmont/Cragin148-97.9$371,000$308,50020.3
McKinley Park19-88.9$360,000$375,000-4

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