This week Zillow released their 2nd Quarter Home Value Reports, detailing what is happening with home values around the country and in the Chicago metro.
When you look at greater Chicagoland, overall homes experienced a 7.3% year over year decline in value. The up side to this is that if you have owned your home for more than 5 years, overall we are still up 2.3% (which is a lot better than what other US metros can say).
|
Metro Area Home Value Performance
|
|
Home Type
|
Current Zillow Home Value Index
|
Year Over Year Change
|
5-Year Annualized Change
|
|
All Homes
|
$244,353
|
-7.3%
|
2.3%
|
|
Single Family
|
$252,917
|
-7.6%
|
2.6%
|
|
Condo/Coop
|
$214,283
|
-5.2%
|
2.0%
|
|
Bottom Tier
|
$158,051
|
-4.9%
|
3.2%
|
|
Middle Tier
|
$241,691
|
-7.2%
|
2.1%
|
|
Top Tier
|
$402,873
|
-7.1%
|
2.1%
|
Here are some of the biggest gains and losses in the area:
- Quarter over Quarter: Lake Bluff, up 5.8% ; Melrose Park (60160), down 6.5%
- Year over Year: 60605, up 6.7% ; 60620, up 6.4% ; Northbrook, down 19.2% ; Des Plaines, down 18.4%
- 5 yr change: North Center and Austin, up 7.7% ; Plainfield (60585), down 1.2%
- 10 yr change: Logan Square, up 9.7% ; Harvard, up 1.4%
Before you start calculating what 7.3% is of what you think your house is worth, remember that real estate is LOCAL. I give you those far reaching numbers, so that you have a benchmark. But it is important to know what is happening in your immediate area, and various neighborhoods are experiencing different growth rates.
Here is a partial list of some of the more popular areas in Chicagoland. For a complete list or to see other areas of the country, please visit this link to Zillow's Home Value Reports and click on the EXCEL icon next to the Chicago title.
|
Region Name
|
City
|
Home Type
|
Zindex
|
Quarter Over Quarter Change
|
Year Over Year Change
|
5 Year Annualized Change
|
10 Year Annualized Change
|
|
60002
|
Antioch
|
All Homes
|
$227,500
|
1.0%
|
-1.5%
|
4.0%
|
4.8%
|
|
60005
|
Arlington Heights
|
All Homes
|
$314,828
|
0.2%
|
-8.8%
|
1.6%
|
5.6%
|
|
60045
|
Lake Forest
|
All Homes
|
$852,500
|
2.8%
|
-5.8%
|
2.5%
|
7.0%
|
|
60067
|
Palatine
|
All Homes
|
$352,284
|
-1.8%
|
-11.3%
|
1.5%
|
5.4%
|
|
60077
|
Skokie
|
All Homes
|
$303,448
|
-4.2%
|
-14.3%
|
1.2%
|
5.9%
|
|
60091
|
Wilmette
|
All Homes
|
$711,681
|
1.3%
|
-7.3%
|
4.0%
|
6.1%
|
|
60093
|
Winnetka
|
All Homes
|
$937,371
|
3.0%
|
-7.2%
|
3.4%
|
6.3%
|
|
60126
|
Elmhurst
|
All Homes
|
$385,163
|
-3.5%
|
-5.4%
|
4.2%
|
7.0%
|
|
60137
|
Glen Ellyn
|
All Homes
|
$364,172
|
-0.6%
|
-4.3%
|
3.7%
|
5.6%
|
|
60173
|
Schaumburg
|
All Homes
|
$277,845
|
-0.2%
|
-3.9%
|
1.5%
|
5.7%
|
|
60187
|
Wheaton
|
All Homes
|
$332,929
|
-1.0%
|
-3.9%
|
3.7%
|
5.4%
|
|
60192
|
Hoffman Estates
|
All Homes
|
$338,060
|
-1.2%
|
-8.7%
|
2.5%
|
5.7%
|
|
60201
|
Evanston
|
All Homes
|
$427,198
|
-1.0%
|
-11.7%
|
1.4%
|
5.8%
|
|
60302
|
Oak Park
|
All Homes
|
$372,198
|
-2.0%
|
-6.3%
|
2.0%
|
7.9%
|
|
60436
|
Joliet
|
All Homes
|
$143,360
|
0.8%
|
-5.1%
|
5.5%
|
5.7%
|
|
60490
|
Bolingbrook
|
All Homes
|
$282,833
|
-2.2%
|
-9.6%
|
1.8%
|
5.7%
|
|
60515
|
Downers Grove
|
All Homes
|
$340,251
|
0.1%
|
-3.2%
|
4.9%
|
6.7%
|
|
60523
|
Oak Brook
|
All Homes
|
$764,956
|
-0.6%
|
-3.0%
|
5.6%
|
5.3%
|
|
60540
|
Naperville
|
All Homes
|
$404,201
|
-1.0%
|
-4.6%
|
4.5%
|
6.4%
|
|
Albany Park
|
Chicago
|
All Homes
|
$329,526
|
-2.6%
|
-8.8%
|
4.0%
|
8.2%
|
|
Avondale
|
Chicago
|
All Homes
|
$343,750
|
-2.5%
|
-7.9%
|
4.6%
|
|
|
Edgewater
|
Chicago
|
All Homes
|
$208,147
|
-1.9%
|
-2.7%
|
1.1%
|
7.9%
|
|
Lake View
|
Chicago
|
All Homes
|
$300,603
|
0.2%
|
1.9%
|
1.6%
|
6.2%
|
|
Lincoln Park
|
Chicago
|
All Homes
|
$391,638
|
-0.8%
|
4.8%
|
1.3%
|
5.7%
|
|
Lincoln Square
|
Chicago
|
All Homes
|
$357,026
|
-2.8%
|
-2.1%
|
3.0%
|
8.3%
|
|
Logan Square
|
Chicago
|
All Homes
|
$361,767
|
-0.5%
|
-2.2%
|
5.2%
|
9.7%
|
|
Loop
|
Chicago
|
All Homes
|
$284,957
|
-2.3%
|
2.5%
|
2.4%
|
6.1%
|
|
Near North Side
|
Chicago
|
All Homes
|
$329,052
|
-0.6%
|
3.3%
|
0.7%
|
5.1%
|
|
Near South Side
|
Chicago
|
All Homes
|
$357,026
|
-4.4%
|
5.4%
|
4.1%
|
5.4%
|
|
Near West Side
|
Chicago
|
All Homes
|
$357,500
|
2.2%
|
4.6%
|
8.1%
|
|
|
Rogers Park
|
Chicago
|
All Homes
|
$212,414
|
-3.1%
|
-3.2%
|
1.6%
|
7.2%
|
|
Uptown
|
Chicago
|
All Homes
|
$247,026
|
-0.2%
|
-0.6%
|
1.3%
|
6.1%
|
|
West Town
|
Chicago
|
All Homes
|
$382,629
|
-2.0%
|
-3.1%
|
3.0%
|
6.0%
|
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Sara, I really like the presentation. I am not sure where you got your stats but if you could tie a template with macros to populate the post, this could easily be a monthly, weekly post to your sphere of influence. AJ