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Chicago’s Resi Market Favors One Part of Town
In a city where the housing sales market has been soft thus far in 2019, some neighborhoods have performed noticeably better for both single-family and condominium/townhome product. A disproportionately high number of those areas are on the South Side, Crain’s Chicago Business reported, in an analysis of Chicago Association of Realtors data.
In the single-family category, the South Side’s Douglas, Englewood, Kenwood, Washington Heights and West Englewood comprised five of the six neighborhoods that outperformed in terms of sales volume, year-over-year appreciation and time on the market.
Similarly, just one of the five outperforming neighborhoods for condo/townhome sales in 2019’s first half wasn’t located on the South Side.
“The South Side is hotter both because its neighborhoods are attracting more buyers—investors and homeowners—and because some neighborhoods, particularly the most desirable North Side areas, may have over-heated in recent years and become victims of their own success,” Crain’s reported.
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- ◦Economy
