Q1 market data for SFH's and Condos

quentingreenrealestate

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

 

 

 

 

 

 

 


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