SNN - Sep/Oct 2007

**Decline in Number of Sheffield* Real Estate Transactions**

The number of real estate transactions in the neighborhood continues to decline as evidenced by the accompanying chart. For the same period from 2005 to 2006, the number of transactions declined by 18%, and from 2006 to 2007, the number declined by 11%. Average selling prices, however, have remained stable. And, in spite of what is reported by the news media, average market times have not increased; it takes three to four months for a property to be sold on the average.

My 9^th Annual 2005-2006 Sheffield Neighborhood Real Estate Market Report is compiled and about to be published. It contains charts, dollar volumes and widtstatistics of real estate sales in the neighborhood, as well as a street-by-street analysis showing what sold on your block, when and at what price. 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

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 - Aug. 15**

	Number			Average Sold Price			Average Market Time
Year	2007	2006	2005	2007	2006	2005	2007	2006	2005
Single Family	28	28	35	$1,484,004	$1,697,169	$1,373,185	116	184	155
Condo	99	116	133	$493,510	$500,652	$474,371	94	113	87
Multi Unit	6	5	12	$1,430,417	$1,072,900	$1,000,708	113	172	158
Vacant Land	2	2	3	$1,075,000	$1,100,000	$1,000,000	94	57	61
Total	135	151	183

**Data compiled from MLSNI (Multiple Listing Service of Northern Illinois)

< Prev		Next >

[ Back ]