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.