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Jim Gramata's Blog

By Jim Gramata | Broker in 60614

Lincoln Park Chicago 4Q 2008 Single-Family Home Buzz

Total single-family homes sold in Chicago's Lincoln Park neighborhood were down slightly from 35 to 32Chicago Area Census Map (a 6% drop), however, the median sales price was up 3% to $1,727,820 (from $1,683,173 in 2007 4Q) and the average single-family home prices were up 8% in 2008 to $2,069,132 compared with $1,913,651 in 2007. Average market time was down 26% to 135 days. 

Listen to the local professionals and look at the real numbers when trying to make sense and have an understanding of your local real estate economy. Even these numbers cannot be read on face value. Drill downs are required!

Chicago Home BuzzzzzzzzzzzFor more information and a Chicago Home Buzz market report visit www.ChicagoHomeBuzz.com where this data will be available soon.



By Joe Zekas,  Sat Jan 24 2009, 08:37
A question about the data, Jim.

Are you reporting only transactions in the MRED MLS? If so, it would be helpful to clarify that. It may be the most complete picture of the market, but it's not a complete picture.

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