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Chicago’s Top-Selling Neighborhoods

by Peter Thomas Ricci

What neighborhood housing markets in the city of Chicago saw the most home sales in April?

chicagoland-home-sales-january-2015-mred-chicago-mainstreet-association-realtors

Creative Commons 3.0: Silverstone1, http://commons.wikimedia.org/wiki/File:Summer_2006_0882.jpg

Last week, we reported that suburban sales in the Chicagoland area outpaced home sales in the city of Chicago, with the suburbs’ 12.8 percent year-over-year sales increase far above the city’s 5.8 percent.

Still, numerous Chicago neighborhoods saw very strong sales last month, and courtesy of the latest Real Time Housing Market Tracker from RedfinChicago Agent assembled a series of graphs that examined what neighborhoods saw the most sales activity.

First, here were the overall top-selling neighborhoods:

Top-Selling-Chicago-Neighborhoods

Though the Near North Side is hardly a surprise at the top of the pack, West Town turned in a strong second-place showing, with sales in the neighborhood rising 25 percent from March to April.

Other communities of note were: Lincoln Park, where sales rose 17.5 percent; Lakeview, where they rose 33 percent; and the Near West Side, where they rose a remarkable 47 percent.

Things change dramatically, though, when the emphasis shifts to single-family home sales:

Top-Selling-Chicago-Neighborhoods

Ashburn, which has long been the top-selling single-family neighborhood in Chicago, slipped to the No. 2 spot in April, as Dunning’s eye-opening 61.5-percent rise in sales vaulted it to the top position (sales were still up 25.8 percent in Ashburn).

Finally, this graph focuses on condo/townhome sales:

Top-Selling-Chicago-Neighborhoods

This graph largely mirrors the overall home sales graph, but some of the month-to-month increases are still striking: in West Town, sales are up 29.5 percent; in Lakeview, they’re up 31.4 percent; and in the Near West Side, they’re up 48.5 percent.

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