Lincoln Park takes downturn in stride

It’s not surprising that the neighborhoods with the highest incomes have weathered the housing downturn better than the ones with lower incomes. But Lincoln Park stands out even among the upper-income neighborhoods of Near North Side, Lake View, Lincoln Square and Near South Side.

A visual inspection of price and volume charts by neighborhood shows that the recession caused some sharp ups and downs — swings of 50% or 100% per quarter in some cases.

In Lincoln Park, the median selling price of a house is now 6% higher than it was in Q2 2008 ($793,250), while the median selling price of a condo is 2% lower than in Q2 2008 ($410,000).

More detail on recent price trends in 20 select Chicago neighborhoods can be found at Lakeshore Analytics.

Jeff Baird is a real estate valuation consultant based in Chicago. He founded Lakeshore Analytics to bring comprehensive, understandable housing data and analysis to Chicago-area readers. The site features a blog with free market news and charts, summary data on 20 top neighborhoods, and quarterly data subscriptions.