No surprise, but it seems like Lincoln Park has been the most resilient neighborhood over the past year. There are single family homes in areas of Ravenswood, Lake View and North Center that have sparked some bidding wars due to the low inventory, but overall homes prices have still been falling.
Chicago as a whole has been dropping at one of the highest rates for median home prices. But if you look at the immediate downtown area, Near North Side & even Lincoln Park, the values have been kind of holding firm and getting a lot of sales.
According to all accounts home value in Chicago is still falling due to all the foreclosures and short sales on
the books and massive inventory in Chicago is contributing to the decline of home prices..
Debbie Bergthold-Smith Classic Real Estate