Q1 market data for SFH's and Condos

Full disclosure: This blog was brought to you by Chat GPT. I admit, this was the first time I've really dug into the software, but wow what a time-saver. The blog itself is nothing special, but what could have taken me a couple hours to synthesize and break down data basically took me 15 minutes. My only beef: It does have trouble generating graphs and visual representations.

Q1 SFH data

Q1 market data is out! I specifically focus on the amount of SFH’s and condos sold in specific neighborhoods and compare Q1 of 2023 to Q1 of 2019 because 2019 was the last “normal”year we had in the market pre-covid.

Let’s take a closer look at single family home sales in certain Chicago neighborhoods from Q1 of 2019 to Q1 of 2023.

The data set tracks the number of single family homes sold in nine different Chicago neighborhoods during the first quarter of each year from 2019 to 2023. Here is a breakdown of the data:

Year	LINCOLN SQUARE	NORTH CENTER	LAKE VIEW	LINCOLN PARK	NEAR NORTH SIDE	AVONDALE	LOGAN SQUARE	HUMBOLDT PARK	WEST TOWN
2023	19	25	17	21	9	14	41	33	43
2022	38	31	34	49	15	26	41	32	43
2021	29	46	27	49	3	25	58	38	61
2020	12	37	28	30	10	19	46	34	29
2019	19	28	29	34	3	22	42	25	36

Here are some key observations:

One thing that stands out immediately is the large drop in sales in Lake View and Lincoln Park, which both saw declines of over 35% between 2019 and 2023. However, it’s also worth noting that these neighborhoods have been on an absolute tear when it comes to price appreciation. North Center also experienced a decline in sales, although it was not as significant as the other two neighborhoods.

Some neighborhoods did see increases in home sales. The Near North Side saw a substantial increase of 200%, going from only 3 sales in 2019 to 9 sales in 2023. Humboldt Park also saw a modest increase of 32%.

Other neighborhoods had more mixed results. Avondale experienced a decrease in sales of 36.4% from 2019 to 2023, but then had a slight increase of 36.8% in 2021 and 4% in 2022 before dropping again by 46.2% in 2023. Logan Square (includes Wicker and Bucktown) had its peak year in 2021 with an increase in sales of 38.1% compared to 2019, but then experienced a significant decrease of 29.3% in 2022 before bouncing back up by 2.4% to 41 sales in 2023. West Town experienced a peak year in 2021 with an increase in sales of 69.4% compared to 2019, but dropped back down by 29.5% to 43 sales in both 2022 and 2023.

Q1 Condo sales

Overall, while some neighborhoods saw declines in home sales over the past five years, there were also neighborhoods that saw increases or more mixed results.

YEAR	North Center	Lake View	Lincoln Park	Near North Side	Avondale	Logan Square	West Town	Near West Side	Lower West Side	Loop	Near South Side
2023	74	304	202	502	29	82	210	196	10	155	111
2022	81	490	338	675	38	153	384	309	11	202	185
2021	92	508	338	471	39	185	430	287	16	172	164
2020	81	344	215	456	35	103	328	186	26	122	126
2019	70	321	197	429	38	105	260	171	18	138	129

From the table, we can see that it’s a fairly mixed-bag. The key takeaway is that we are really starting to absorb units in the immediate downtown markets, which is a fantastic sign that our downtown neighborhoods are really starting to stabilize. The only exception is the Near South Side (South Loop), which struggled to keep up with the other Downtown neighborhoods. The largest increase was seen in Near North Side (River North, Gold Coast, Old Town, Streeterville), which had a 17% increase in condo sales in 2023 compared to 2019.

On the other hand, some neighborhoods saw a decrease in condo sales in 2023 compared to 2019, with the largest decrease seen in West Town, Logan Square (includes Wicker and Bucktown), and Avondale.

Overall, the Q1 condo sales data for these Chicago neighborhoods suggests a healthy real estate market in 2023, especially in the more dense areas of the city.

Full data sets below if you are curious as to how other neighborhoods performed.

SFH sales

AreaNum	AreaName	2023 Units Sold	2022 Units Sold	2021 Units Sold	2020 Units Sold	2019 Units Sold
8001	CHICAGO - ROGERS PARK	11	8	6	9	11
8002	CHICAGO - WEST RIDGE	27	29	25	31	30
8003	CHICAGO - UPTOWN	5	8	11	6	6
8004	CHICAGO - LINCOLN SQUARE	19	38	29	12	19
8005	CHICAGO - NORTH CENTER	25	31	46	37	28
8006	CHICAGO - LAKE VIEW	17	34	27	28	29
8007	CHICAGO - LINCOLN PARK	21	49	49	30	34
8008	CHICAGO - NEAR NORTH SIDE	9	15	3	10	3
8009	CHICAGO - EDISON PARK	13	35	30	26	22
8010	CHICAGO - NORWOOD PARK	77	103	96	70	57
8011	CHICAGO - JEFFERSON PARK	34	51	43	42	26
8012	CHICAGO - FOREST GLEN	36	43	44	35	29
8013	CHICAGO - NORTH PARK	12	17	9	10	9
8014	CHICAGO - ALBANY PARK	23	26	31	31	27
8015	CHICAGO - PORTAGE PARK	64	100	100	67	85
8016	CHICAGO - IRVING PARK	40	52	53	55	52
8017	CHICAGO - DUNNING	53	102	88	90	74
8018	CHICAGO - MONTCLARE	9	19	15	20	9
8019	CHICAGO - BELMONT CRAGIN	48	53	58	49	41
8020	CHICAGO - HERMOSA	7	21	17	15	16
8021	CHICAGO - AVONDALE	14	26	25	19	22
8022	CHICAGO - LOGAN SQUARE	41	41	58	46	42
8023	CHICAGO - HUMBOLDT PARK	33	32	38	34	25
8024	CHICAGO - WEST TOWN	43	43	61	29	36
8025	CHICAGO - AUSTIN	55	76	67	83	75
8026	CHICAGO - WEST GARFIELD PARK	5	4	3	6	1
8027	CHICAGO - EAST GARFIELD PARK	4	8	10	5	9
8028	CHICAGO - NEAR WEST SIDE	5	8	14	4	5
8029	CHICAGO - NORTH LAWNDALE	11	13	11	9	9
8030	CHICAGO - SOUTH LAWNDALE	7	11	11	6	8
8031	CHICAGO - LOWER WEST SIDE	3	2	5	2	3
8032	CHICAGO - LOOP	0	0	0	0	0
8033	CHICAGO - NEAR SOUTH SIDE	1	5	3	0	0
8034	CHICAGO - ARMOUR SQUARE	0	1	0	1	2
8035	CHICAGO - DOUGLAS	5	7	5	8	4
8036	CHICAGO - OAKLAND	1	2	2	3	3
8037	CHICAGO - FULLER PARK	4	0	2	2	1
8038	CHICAGO - GRAND BOULEVARD	12	15	7	20	25
8039	CHICAGO - KENWOOD	8	7	2	8	8
8040	CHICAGO - WASHINGTON PARK	1	1	1	1	1
8041	CHICAGO - HYDE PARK	6	2	1	4	2
8042	CHICAGO - WOODLAWN	11	14	15	6	17
8043	CHICAGO - SOUTH SHORE	17	32	22	32	22
8044	CHICAGO - CHATHAM	22	40	48	50	37
8045	CHICAGO - AVALON PARK	17	24	21	26	22
8046	CHICAGO - SOUTH CHICAGO	23	29	37	28	24
8047	CHICAGO - BURNSIDE	7	8	5	7	6
8048	CHICAGO - CALUMET HEIGHTS	26	30	33	28	31
8049	CHICAGO - ROSELAND	85	110	87	95	80
8050	CHICAGO - PULLMAN	3	10	7	10	11
8051	CHICAGO - SOUTH DEERING	5	21	10	9	11
8052	CHICAGO - EAST SIDE	16	31	20	17	23
8053	CHICAGO - WEST PULLMAN	49	63	60	50	53
8054	CHICAGO - RIVERDALE	4	3	2	1	0
8055	CHICAGO - HEGEWISCH	12	30	13	12	16
8056	CHICAGO - GARFIELD RIDGE	55	114	73	65	66
8057	CHICAGO - ARCHER HEIGHTS	5	5	7	11	6
8058	CHICAGO - BRIGHTON PARK	6	13	13	11	10
8059	CHICAGO - MCKINLEY PARK	9	6	10	9	4
8060	CHICAGO - BRIDGEPORT	9	21	28	18	22
8061	CHICAGO - NEW CITY	15	22	22	13	20
8062	CHICAGO - WEST ELSDON	16	14	18	24	18
8063	CHICAGO - GAGE PARK	12	23	14	20	23
8064	CHICAGO - CLEARING	34	39	37	33	24
8065	CHICAGO - WEST LAWN	26	44	40	31	33
8066	CHICAGO - CHICAGO LAWN	37	44	37	49	67
8067	CHICAGO - WEST ENGLEWOOD	58	59	45	29	42
8068	CHICAGO - ENGLEWOOD	14	21	11	18	18
8069	CHICAGO - GREATER GRAND CROSSING	41	34	32	36	22
8070	CHICAGO - ASHBURN	58	84	58	63	83
8071	CHICAGO - AUBURN GRESHAM	56	81	81	71	66
8072	CHICAGO - BEVERLY	31	48	47	35	28
8073	CHICAGO - WASHINGTON HEIGHTS	53	57	60	64	84
8074	CHICAGO - MOUNT GREENWOOD	29	60	41	36	45
8075	CHICAGO - MORGAN PARK	45	55	64	49	36
8076	CHICAGO - O'HARE	4	3	6	5	4
8077	CHICAGO - EDGEWATER	15	19	11	18	15

	CITYWIDE	1734	2449	2,241	2042	1977

Condo sales

AreaNum	AreaName	2023 Units Sold	2022 Units Sold	2021 Units Sold	2020 Units Sold	2019 Units Sold
8001	CHICAGO - ROGERS PARK	82	126	125	87	72
8002	CHICAGO - WEST RIDGE	71	78	85	66	70
8003	CHICAGO - UPTOWN	129	200	198	131	154
8004	CHICAGO - LINCOLN SQUARE	55	101	91	66	67
8005	CHICAGO - NORTH CENTER	74	81	92	81	70
8006	CHICAGO - LAKE VIEW	304	490	508	344	321
8007	CHICAGO - LINCOLN PARK	202	338	338	215	197
8008	CHICAGO - NEAR NORTH SIDE	502	675	471	456	429
8009	CHICAGO - EDISON PARK	7	16	14	15	11
8010	CHICAGO - NORWOOD PARK	15	24	18	12	17
8011	CHICAGO - JEFFERSON PARK	11	18	13	11	4
8012	CHICAGO - FOREST GLEN	7	1	3	4	6
8013	CHICAGO - NORTH PARK	8	9	12	10	3
8014	CHICAGO - ALBANY PARK	25	50	32	26	27
8015	CHICAGO - PORTAGE PARK	16	23	15	23	15
8016	CHICAGO - IRVING PARK	35	65	64	56	42
8017	CHICAGO - DUNNING	21	21	25	17	22
8018	CHICAGO - MONTCLARE	0	8	7	2	7
8019	CHICAGO - BELMONT CRAGIN	4	11	6	5	6
8020	CHICAGO - HERMOSA	1	1	1	2	3
8021	CHICAGO - AVONDALE	29	38	39	35	38
8022	CHICAGO - LOGAN SQUARE	82	153	185	103	105
8023	CHICAGO - HUMBOLDT PARK	1	9	16	12	4
8024	CHICAGO - WEST TOWN	210	384	430	328	260
8025	CHICAGO - AUSTIN	8	15	10	12	14
8026	CHICAGO - WEST GARFIELD PARK	3	2	2	2	0
8027	CHICAGO - EAST GARFIELD PARK	10	9	5	4	9
8028	CHICAGO - NEAR WEST SIDE	196	309	287	186	171
8029	CHICAGO - NORTH LAWNDALE	1	4	5	3	3
8030	CHICAGO - SOUTH LAWNDALE	0	0	1	0	1
8031	CHICAGO - LOWER WEST SIDE	10	11	16	26	18
8032	CHICAGO - LOOP	155	202	172	122	138
8033	CHICAGO - NEAR SOUTH SIDE	111	185	164	126	129
8034	CHICAGO - ARMOUR SQUARE	6	4	6	3	6
8035	CHICAGO - DOUGLAS	19	29	20	11	21
8036	CHICAGO - OAKLAND	5	6	6	6	10
8037	CHICAGO - FULLER PARK	1	0	0	0	0
8038	CHICAGO - GRAND BOULEVARD	18	30	30	30	31
8039	CHICAGO - KENWOOD	31	32	42	28	31
8040	CHICAGO - WASHINGTON PARK	4	6	10	1	7
8041	CHICAGO - HYDE PARK	29	47	52	47	34
8042	CHICAGO - WOODLAWN	6	11	13	23	10
8043	CHICAGO - SOUTH SHORE	28	29	24	36	19
8044	CHICAGO - CHATHAM	6	11	5	5	3
8045	CHICAGO - AVALON PARK	0	1	0	1	2
8046	CHICAGO - SOUTH CHICAGO	5	0	1	2	1
8047	CHICAGO - BURNSIDE	1	0	0	1	0
8048	CHICAGO - CALUMET HEIGHTS	1	1	0	1	0
8049	CHICAGO - ROSELAND	3	1	2	1	2
8050	CHICAGO - PULLMAN	9	4	1	1	3
8051	CHICAGO - SOUTH DEERING	13	13	12	9	2
8052	CHICAGO - EAST SIDE	2	0	1	2	3
8053	CHICAGO - WEST PULLMAN	4	0	2	0	2
8054	CHICAGO - RIVERDALE	0	0	1	0	2
8055	CHICAGO - HEGEWISCH	0	0	0	0	0
8056	CHICAGO - GARFIELD RIDGE	6	3	4	1	2
8057	CHICAGO - ARCHER HEIGHTS	0	2	0	0	0
8058	CHICAGO - BRIGHTON PARK	0	2	1	0	2
8059	CHICAGO - MCKINLEY PARK	4	2	2	11	4
8060	CHICAGO - BRIDGEPORT	13	4	16	12	18
8061	CHICAGO - NEW CITY	2	2	1	2	3
8062	CHICAGO - WEST ELSDON	3	2	1	1	2
8063	CHICAGO - GAGE PARK	0	0	1	0	1
8064	CHICAGO - CLEARING	14	18	20	23	10
8065	CHICAGO - WEST LAWN	5	10	9	7	6
8066	CHICAGO - CHICAGO LAWN	0	1	0	1	0
8067	CHICAGO - WEST ENGLEWOOD	0	0	0	0	0
8068	CHICAGO - ENGLEWOOD	5	0	0	0	0
8069	CHICAGO - GREATER GRAND CROSSING	1	1	0	1	1
8070	CHICAGO - ASHBURN	1	2	1	2	0
8071	CHICAGO - AUBURN GRESHAM	3	2	2	0	0
8072	CHICAGO - BEVERLY	2	10	6	3	3
8073	CHICAGO - WASHINGTON HEIGHTS	1	0	0	0	1
8074	CHICAGO - MOUNT GREENWOOD	5	2	3	2	2
8075	CHICAGO - MORGAN PARK	2	3	3	5	1
8076	CHICAGO - O'HARE	20	32	29	22	17
8077	CHICAGO - EDGEWATER	125	179	196	123	160

	CITYWIDE	2788	4,159	3973	3012	2855