Another hard year for Austin homes

5700 block of W Race Ave

The Austin community area came in first among in foreclosures in 2009 and continues to be the leader of the pack going into this year.

According to the latest report from the Woodstock Institute, Austin saw 208 foreclosure filings in 1Q ’10, down more than 27 percent from 1Q ’09 but still ahead of all other community areas. In 2009 there were 948 foreclosure filings in Austin; Belmont Cragin followed with 934, and West Ridge with 800.

Austin had 38,253 housing units in 2000 and was projected to have almost exactly the same amount by 2010, according to census figures hosted by the Metro Chicago Information Center.

The 171 condos, townhomes, and single-families currently listed in Austin have a median list price of $139,900, and on average have been on the market for 168 days. By comparison, the 168 transactions Redfin has recorded over the past six months show a median sales price of just $37,750.

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