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A bright spot in North Center: Single-family home prices up 7.5%

filed under: Buyers, Chicago home prices, North Center posted on January 15th, 2012

ROSCOE:

ROSCOE VILLAGE CHARM: This renovated 3-bedroom in the heart of Roscoe Village sold in 2011 after just three weeks on the market. Located in the Audubon school district, it featured large bedrooms, a finished basement and a backyard with a deck. Priced at $669,900, it sold for $625,000.

While home prices in most Chicago neighborhoods have been steadily falling, North Center — a desirable area with good schools and walkable neighborhoods like Roscoe Village — is bucking the trend. In 2011, the median price for a single-family house here rose to $805,000, a 7.5% increase over the year before.

More of these lovely houses are being sold, too. Sales of North Center houses soared almost 23% in 2011.

Condo prices in North Center, meanwhile, have held steady, ranging from a median of $365,000 to $370,000 over the past three years. Considering that condos in many other North Side areas have fallen at least 10-20% in value in recent years, North Center is definitely holding up quite well.

As the new year begins, I have two buyers looking in North Center, both young couples with children interested in homes available here in good elementary school districts such as Coonley, Bell and Audubon. And despite the relatively high median price of $805,000, you can definitely find an updated 3 or 4-bedroom house in North Center for considerably less money. More than 30 houses, many of them century-old homes that have been renovated, sold for $500,000 to $700,000 in 2011.

Written by Sue Fox //

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