Sheffield neighborhood real estate activity

BY PAULA ARNETT

Real estate activity for the first month and one half is shown on the accompanying chart in the Sheffield* neighborhood. For the same period last year, about one half the number of new listings have come on the market. With all of the news reports about the slow real estate market, sellers are reluctant to put their properties on the market. But properties going under contract have only declined by about one third. And properties closing are consistent with last year except for multi-units.

My 10th Annual 2006-2007 Sheffield Neighborhood Real Estate Market Report is being printed and contains charts, dollar volumes and statistics of real estate sales in the neighborhood. If you have not received last year’s report and would like a copy, please contact me at 773.294.1822 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it . The report, as well as other Sheffield neighborhood information, will also be available on my new website, paulaarnett.com.

Paula Arnett, GRI, CRS, ABR, who has provided quality single-agency real estate representation for more than 20 years, is a Broker Associate with Rubloff Residential Properties, 2663 N. Halsted, Chicago, IL 60614, and is a member of the SNA Board of Directors.

*Sheffield’s boundaries are Armitage on the South, Fullerton on the North, Halsted on the East and the Chicago River on the West.

	Jan. 1 thru Feb. 15, 2008			Jan. 1 thru Feb. 15, 2007
	Listed	Under Contract	Closed	Listed	Under Contract	Closed
Single Family	13	7	3	20	7	4
Condo	21	11	7	51	21	7
Multi Unit	4	3	4	8	3	0
Vacant Land	0	0	0	1	0	0
Total	38	21	14	80	31	11

Data compiled from Multiple Listing Service of Northern Illinois on February 19, 2008.

SNN - Jan/Feb 2008

SNN Jan/Feb 2008

Sheffield Neighborhood* Real Estate Transactions

BY PAULA ARNETT

The Sheffield neighborhood* saw the fewest number of transactions in 2007 for the past ten years. The total number of transactions is down from last year by about 8% due to the drop in condo sales. Single family, multi units and vacant land transactions have increased, however, as shown on the accompanying chart. Prices of single family homes, condos and vacant land remain essentially flat, but there is a 21% increase in the price of multi units along with an 83% increase in the number of sales. Market times have increased significantly except for the hot multi units whose market time has decreased by 8%.

The spring real estate market has begun. Now is not too early to put your property on the market if you are planning to sell this year…it just may take a little longer than you would like.

If you have not received my 9th Annual 2005-2006 Sheffield Neighborhood Real Estate Market Report containing charts, dollar volumes and statistics of real estate sales in the neighborhood, as well as the Street-by-Street analysis showing what sold on your block, when and at what price, please contact me at 773.294.1822 or This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

Paula Arnett, GRI, CRS, ABR, who has provided quality single-agency real estate representation for more than 20 years, is a Broker Associate with Rubloff Residential Properties, 2663 N. Halsted, Chicago, IL 60614, and is a member of the SNA Board of Directors.

*Sheffield’s boundaries are Armitage on the South, Fullerton on the North, Halsted on the East and the Chicago River on the West.

Sheffield* Real Estate Prices for Closed Properties Jan. 1 - Dec. 31**
	Number		Average Sold Price		Avg Market Time
Year	2007	2006	2007	2006	2007	2006
Single Family	40	38	$1,640,646	$1,650,096	191	173
Condo	140	165	$497,611	$491,833	122	108
Multi Unit	11	6	$1,239,675	$1,024,083	142	154
Vacant Land	3	2	$983,333	$1,100,000	99	57
Total	194	211

**Data compiled from MLSNI (Multiple Listing Service of Northern Illinois) on January 4, 2008

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