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Chicago’s Top-Selling Neighborhoods

by Peter Thomas Ricci

What neighborhoods in the city of Chicago saw the most home sales in May?

chicagoland-suburbs-top-selling-december-2014-housing-market-recovery-naperville-joliet-aurora

Creative Commons 3.0: Payton Chung, http://commons.wikimedia.org/wiki/File:Full_chicago_skyline.jpg

Earlier this week, Chicago Agent reported that home sales in the city of Chicago rose 10.1 percent last month, and that among the most competitive housing markets with the city, time on market is as low as nine days and housing inventory is as low as 0.3 months.

Now, courtesy of exclusive numbers from Redfin, we’re back with several graphs on Chicago’s top-selling neighborhoods. First, here is a graph on the areas with the most total sales:

top-selling_chicago_neighborhoods_graph

The Near North Side was, as usual, at the top of the pack, though sales did rise an impressive 26.1 percent from April to May. Lincoln Park and the South Loop also saw notable increases, with sales rising 11.3 and 22.6 percent, respectively.

When focusing on areas with the most single-family sales, though, the list changes dramatically:

chicago_neighborhoods_with_most_single-family_sales_graph

Neighborhoods from the Northwest and South Sides are much more active in the single-family market, and several of the top communities saw pronounced increases in sales from April to May. In first-place Portage Park, for instance, sales rose a remarkable 67.9 percent, and sales in Logan Square rose 68.4 percent.

Other notable markets included Norwood Park (where sales rose 14.7 percent) and Humboldt Park (where sales rose 52.9 percent). Interestingly, Ashburn, which is normally the top single-family market in the city, came in at No. 4.

Finally, here is a graph with the city’s top-selling condo/townhome markets:

chicago_neighborhoods_with_the_most_condo_and_townhome_sales_graph

Given attached housing’s prominence in Chicago, it’s unsurprising that our graph on condo/townhome markets closely mirrors our graph on top-selling neighborhoods.

Notable increases included: Lincoln Park (14.4 percent); Near North Side (27.4 percent); Near South Side (26.8 percent); and finally, the Loop, where sales shot up 65.4 percent.

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