Part One of a Two-Part Study of Local Real Estate Trends
Realtors keep track of home trends by watching the number of sales in an area. Most of us have observed that in the past 10 years, the trend to build or convert condo units in Chicago (including Rogers Park) has grown enormously. In 2005, Rogers Park was actually one of the top 10 Chicago Communities in terms of Condo Sales.
Gentrifying condo areas like Rogers Park are experiencing rapid sales volume and price increases. Some of these gains have been spectacular.
The following charts compare Rogers Park to other top-selling neighborhoods in terms of condo sales (current and past) and prices. In the summer RP2000 we will take a closer look at evolving real-estate trends in Rogers Park.
Peter Fugiel is a realtor in the Lakeview office of Property Consultants, and a resident of Rogers Park. He is also a long time housing analyst who has worked with a number of state and local agencies on housing issues. Basic statistical information on price, market time, and sales volume provided by FAST, STAT, Chicago Association of Realtors.
