House prices in Logan Square took a serious dive from 2007 to 2009, but have increased the last three quarters, even as sales volume has approached pre-crash levels.
The median price of a single-family home sold in Logan Square was $301,500, the highest since the third quarter of 2009. The metric peaked at $524,250 in the third quarter of 2007. Though still 42% off its peak, the median price in Logan Square was 50% higher in the last quarter of 2010 than it was in the first quarter of 2010.
Big swings like this are usually suspect in periods or neighborhoods in which there are few sales. However, Logan Square has had 150 or more house sales in every quarter since 2007 except two. The most recent quarter had 152 sales, third-most among the neighborhoods I track. For more trends and charts covering 20 Chicago neighborhoods, download a market report here.
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.