Luxury Home Sales Skyrocket In Logan Square
March 14, 2019 - Chicago
The Chicago neighborhood that saw the highest surge in $1 million-plus single-family home sales for 2018 was Logan Square, which boasted a whopping 67% increase, according to a recent RE/MAX report.
Lincoln Square was the next top neighborhood, with sales going up by 21 percent in 2018.
Medium sales prices went up by 2 percent in Logan Square.
Lincoln Park, the perennial leader in luxury detached sales, saw a decline in 2018 — sales of $1 million-plus single-family homes fell by 16% in the neighborhood.
Despite the decline, median sales prices in Lincoln Park went up by 6% in 2018, according to the report.
Luxury home sales in North Center were also down in 2018, according to the report. Sales fell by 21% in the neighborhood.
Sales in Lake View rose 12%, and West Town and Near North were unchanged from 2017, according to the report.
Median sales prices also went up by 5% in Lake View and 3% in Lincoln Square.
The median price was down 14% in Near North, 2% in North Center and 1% in West Town.
In Chicago, there were a total of 1,400 luxury home sales for 2018 — 5% higher than 2017, according to the RE/MAX report. The median price rose 0.2% to $1,350,000.
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