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Saturday, November 2, 2024

What happened to the median home price in Gresham during April?

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The median sale price of a home sold in April in Gresham, a Chicago neighborhood, fell by $93,500 while total sales decreased by 85 percent, according to BlockShopper.com.

In April, there were nine homes sold, with a median sale price of $95,000 - a 49.6 percent decrease from the $188,500 median sale price for the same period of the previous year. There were 60 homes sold in Gresham in April 2021.

The median sales tax in Gresham for the most recent year with available data, 2019, was $1,739, approximately 1.8 percent of the median home sale price for April.

The following table compares Gresham 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)
Englewood1353-75.5$111,000$85,00030.6
Brainerd528-82.1$110,500$166,000-33.4
Washington Park34-25$110,000$146,000-24.7
Lawndale351-94.1$105,000$275,000-61.8
Gage Park112-91.7$105,000$220,000-52.3
Gresham960-85$95,000$188,500-49.6
Hegewisch110-90$90,000$168,500-46.6
South Shore1041-75.6$82,500$180,000-54.2
Back of the Yards718-61.1$77,500$97,750-20.7
South Deering417-76.5$75,500$68,50010.2
Calumet Heights 523-78.3$70,000$250,000-72

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