Home sales down in most neighborhood markets

Chicago home sales volume, 4Q 2010, percent change year-over-yearEarlier this week, I wrote that sales were down significantly across the city in the fourth quarter of 2010 — specifically, sales of houses were down 20% from last quarter and 22% from the same quarter in 2009. The story was similar for condos, as sales of these were down 29% from a quarter ago and 26% from the same quarter last year.

Usually, there is a fair amount of variety across the 20 neighborhoods I regularly track. This time, however, it was all one sided, as the chart at right shows. I track 20 neighborhoods, two property types each. Sales were down in 37 of the 40 metrics. Only houses in Near North Side and West Town and condos in Jefferson Park were up over the same quarter last year.

Though most median selling prices were down, it wasn’t quite as one-sided. Visit Lakeshore Analytics to find a chart showing the changes in median price by neighborhood, as well as charts that show the prices and sales volume for each of 20 top neighborhoods. I’ll follow up with more neighborhood-specific data next week.

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