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Weekly Stats: North Center

Jun 30, 2010 at 6:59 PM by Sara McCarthy

We keep hearing negative home sale statistics from the national media. There is a general negative trend in the national market. However, not all neighborhoods are the same. Below I have detailed sales statistics pulled from the Multiple Listing Service for the North Center neighborhood on Chicago's north side. North Center is a larger neighborhood comprised of sub-neighborhoods. These include St. Ben's, Roscoe Village and West Lakeview. North Center is bound by Diversey (2800N), Montrose (4400N), Ravenswood (1800W) and the Chicago River (2700W).

Small businesses and distinctive shopping in each sub-neighborhood makes living in North Center ring with vibrancy. The schools are well-renown throughout Chicago and the stable economy in North Center attract families to the area.

North Center's location enables open access to the surrounding neighborhoods and an easy commute downtown. Most streets are tree-lined and there is an abundance of large public parks. The Chicago River runs through North Center and offers pristine views and complements many of the parks which are home to numerous sports and recreation activities.

Each area in North Center has a distinctive style of housing. St. Ben's is a popular, well-established community that is characterized by brick two-flats and frame single-family homes. Roscoe Village, with its small-town feel, has older single-family homes, renovated (and un-renovated) two- and three-flats, newer townhomes and loft conversions.

See table below for details on the positive sales trend when comparing March 2010 through June 2010. As you can see, the number of Sold listings is steadaly rising. Also the pricing, especially on attached listings, is closer to the final sales prices. This bodes well for the comming months in regards to home sales within this great Chicago neighborhood.

Detatched Units (Single Family Homes)
Month||# New|| Avg. New OLP||# Sold|| Avg. Sale $|| Avg. Days||
Mar-10|| 3 || $966,333 || 6 || $788,000 || 144 ||
Apr-10 || 26 || $1,063,884 || 8 || $591,432 || 110 ||
May-10 || 32 || $803,720 || 13 || $917,332 || 103 ||
Jun-10 || 43 || $943,453 || 24 || $704,608 || 120 ||

Attached Units (Condos, Townhomes)
Month||# New|| Avg. New OLP||# Sold|| Avg. Sale $|| Avg. Days||
Mar-10 || 9 || $409,866 || 13 || $387,615 || 117 ||
Apr-10 || 65 || $386,527 || 41 || $359,493 || 106 ||
May-10 || 41 || $404,929 || 43 || $386,271 || 164 ||
Jun-10 || 53 || $379,091 || 54 || $403,689 || 110 ||

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