Chicago's Forest Glen neighborhood is one of the oldest neighborhoods in the city. It also includes the Edgebrook and Sauganash communities. While the Forest Glen communities are only a few miles from downtown Chicago and the fast paced life one would associate with the city, the neighborhood has a suburban feel.
Looking at the latest statistics available from MRED, our local multiple listing service, here is what happened in residential real estate in Forest Glen, comparing February 2018 and its trailing 12 months with the same period in 2017.
Detached Single Family Homes: The median sale price for detached single family homes was relatively unchanged, from $450,000 in 2017 to $448,000 in 2018. Closed sales were also steady, with 232 homes sold in 2017 compared to 234 homes in 2018. There was a 7.7% drop in new listings taken in 2018 compared to 2017, as inventories continue to be tight. It took an average of 93 days to sell a home, unchanged from the previous year.
As of today, there are 107 active detached single family homes listed in the MLS in Forest Glen, with prices ranging from $228,000 to $1,999,900.
Attached Single Family Homes: New Listings taken were down 24.4%, closed sales were up 15.8%, and the median sale price rose from $255,000 in 2017 to $272,000 in 2018. It took an average of 82 days from listing to closed sale, up from 62 days the previous year.
Currently there are only 7 condos and townhomes in the active listing category in the MLS, ranging from $289,900 to $595,000.
If you have questions about real estate in the Forest Glen area, please contact us for assistance.