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02-25-2009, 07:19 PM
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Senior Member
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Join Date: Nov 2008
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And the home and condo prices just keep on falling
January home prices in Chicago take a tumble :: CHICAGO SUN-TIMES :: Business
this jan they dropped 28.9 percent, The median price dropped to $206,250, and sales fell 23.5 percent ,
In the Chicago metropolitan area, the median price fell 22.8 percent to $185,000, and sales fell 24.5 percent to 2,965.
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02-25-2009, 09:48 PM
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Senior Member
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Join Date: Apr 2007
Location: Chicago, IL USA
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What I'd like to see is a neighborhood-by-neighborhood (and suburb-by-suburb) breakdown of sales and price changes. I'm thinking that can vary widely from one part of town to another, especially since Chicagoland is such a huge place.
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02-25-2009, 10:02 PM
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Senior Member
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Location: Sonoma County, CA
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hopefully it stabilizes around this and holds there for around 5 years... looking for a home in about that time  |
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02-25-2009, 10:07 PM
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Senior Member
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From a home buyer/seller's perspective it is almost useless to look at the overall statistics in my opinion. There is tremendous variance by neighborhood and price point.
For example, lower end condo units in established neighborhoods and buildings continue to sell relatively fast and not much less than market values a year or two ago.
Many neighborhoods in Chicago have population akin to a small city. Better to look at them in isolation, not the aggregate.
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02-25-2009, 10:39 PM
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There's beauty in the solace of not giving a damn.
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Join Date: Nov 2006
Location: Chicago
16,574 posts, read 13,392,276 times
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Quote:
Originally Posted by andrew61
What I'd like to see is a neighborhood-by-neighborhood (and suburb-by-suburb) breakdown of sales and price changes. I'm thinking that can vary widely from one part of town to another, especially since Chicagoland is such a huge place.
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Scroll down to about the middle of this page.
I gotta tell you though, I'm a little skeptical of some of the data. The average home price in Englewood is $250K? I don't think I'm buying it. That's more than Edgewater, Portage Park and Dunning, and right on par with Jefferson Park. 
$300K in Back o' the Yards? LOL. |
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02-25-2009, 10:46 PM
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The Piper at the Gates of Dawn
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Join Date: Aug 2007
Location: Chicago
10,761 posts, read 6,993,717 times
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Quote:
Originally Posted by Drover
Scroll down to about the middle of this page.
I gotta tell you though, I'm a little skeptical of some of the data. The average home price in Englewood is $250K? I don't think I'm buying it. |
I would guesstimate it is closer to 100k. 
I do believe these stats however:
http://files.chicagotribune.com/home...COUNTY=1700000 |
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02-26-2009, 04:52 PM
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Senior Member
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Quote:
Originally Posted by soulful
For example, lower end condo units in established neighborhoods and buildings continue to sell relatively fast and not much less than market values a year or two ago.
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like where? |
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02-26-2009, 10:43 PM
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asdf jkl;
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Join Date: Oct 2007
Location: Uptown, Chicago
7,220 posts, read 5,025,323 times
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Quote:
Originally Posted by Drover
Scroll down to about the middle of this page.
I gotta tell you though, I'm a little skeptical of some of the data. The average home price in Englewood is $250K? I don't think I'm buying it. That's more than Edgewater, Portage Park and Dunning, and right on par with Jefferson Park.
$300K in Back o' the Yards? LOL. |
If it's median price, it could be that most of the sales in Englewood include single-family houses. I would venture to guess that there aren't many condos in Englewood! |
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02-26-2009, 10:48 PM
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The Piper at the Gates of Dawn
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Join Date: Aug 2007
Location: Chicago
10,761 posts, read 6,993,717 times
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Quote:
Originally Posted by Lookout Kid
If it's median price, it could be that most of the sales in Englewood include single-family houses. I would venture to guess that there aren't many condos in Englewood!
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I cannot fathom any SFH in Englewood being worth 300k. Well maybe if one has 6 bedrooms or more maybe...
Anyone that paid 300k for an average (no matter what the condition) SFH home in Englewood is a fool.
There is no way those figures are correct even if they only are pertaining to SFH's. |
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02-26-2009, 10:53 PM
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Senior Member
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Location: Chicago: Beverly, Woodlawn
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Even most SFHs in Englewood would be in the mid to high 100s these days. Are you sure they're not including Multi-units in the tally? I've scrolled through the sales records many times and they seem to have all of that data lumped together. If not then I have trouble believing it. There are definitely some sales in the 200s that I see pop up (and the occasional one in the 3s) but that's not a credible median price.
Quote:
Originally Posted by Lookout Kid
If it's median price, it could be that most of the sales in Englewood include single-family houses. I would venture to guess that there aren't many condos in Englewood!
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