Luxury Home Sales Down In Lincoln Park

CHICAGO — Lincoln Park, the perennial leader in luxury detached sales, saw a decline in 2018, according to a recent RE/MAX report. Sales of $1 million-plus single-family homes fell by 16 percent in the neighborhood, with 148 houses sold.

Despite the decline, median sales prices in Lincoln Park went up by 6 percent 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 percent in the neighborhood.

Lincoln Square single-family luxury sales were up by 21 percent, with 34 home sales in 2018; however the total number of single-family luxury homes sold in North Center — 121 houses — far surpassed Lincoln Square's sales.

The neighborhood that saw a highest surge in $1 million-plus single-family home sales was Logan Square, which boasted a whopping 67 percent increase.

Sales in Lake View rose 12 percent, with 123 home sales, according to the report.

West Town (94 houses sold) and Near North (23 houses sold) were unchanged from 2017, according to the report.

Median sales prices also went up by 5 percent in Lake View, 3 percent in Lincoln Square and 2 percent in Logan Square.

The median price was down 14 percent in Near North, 2 percent in North Center and 1 percent in West Town.

In Chicago, there were a total of 1,400 luxury home sales for 2018 — 5 percent higher than 2017, according to the RE/MAX report. The median price rose 0.2 percent to $1,350,000.

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