Late last year, I wrote that Humboldt Park house prices took a steep dive during the recession, and that median selling prices in the neighborhood had been well below $100,000 for two years.
2010 was the year for condo prices in Humboldt Park to follow suit. Data for the fourth quarter show that condos sold for a median of $85,000, the third consecutive quarter in which the median price fell steeply. The condo peak in Humboldt Park was the second quarter of 2007, when 138 properties sold for a median of $310,000. Last quarter, 41 condominiums sold — far off the peak, but still enough to make the median price meaningful.
You can view single family and condominium market charts side by side 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.