Although we’re in the middle of another “Polar Vortex,” spring really is just around the corner. Spring is typically the time of year that people begin thinking about buying or selling a home. The most common question I get asked is “how’s the market doing?” And, for my Galewood neighbors the answer is “Great!” The median sale price of $202,500 for detached single-family homes represents an increase of 27.4% over the last 12 months.
The condo/townhome market is also recovering, but at a slightly slower pace due to an abundance of short-sale and foreclosed (bank owned) properties on the market. The median price for traditional (non-distressed) sales is $64,050, an increase of 23.2% over the last 12 months. Another good sign is market time (how long it takes to sell a property). Market time in Galewood is down to an average of 97 days on the market, compared to an average of 146 days on the market 12 months ago. This represents a 33.4% percent decline in market time which means if you’re selling, your house will probably sell faster.
Galewood is currently a “seller’s market” meaning that the supply of homes on the market is low, so prices can be expected to move up. In January of 2013 there was a 6 month supply of homes on the market. This January there was a 2.2 month supply of homes on the market. Anything less than a 3 month supply is considered a “seller’s market.” So, if you have been waiting until the market improved to put your home on the market, the wait is over. Galewood is on the upswing again!
Robert Perlin, a real estate broker with Baird & Warner, has owned and lived in his beautiful Galewood bungalow since 1999. Robert welcomes your comments, questions or future column suggestions, and is happy to help you with any real estate needs. You can reach Robert at (708) 697-5947 or email Robert or visit his website galewoodhomes.com
* Data provided by MRED (Midwest Real Estate Data).
There will be a neighborhood meeting Tuesday, March 11, from 6:30-7:30 PM at Redeemer Church, 6740 W. North Ave. (Parking lot at the northeast corner of North & Oak park Avenues; church directly to the east.) The meeting is organized by the Northwest Community Coalition.
The agenda includes:
- The proposed Behind Close Doors nightclub masquerading as a banquet hall
- Magic Foods (what’s going on behind those papered-over windows?)
- Crime, including the complex at 1900 N. Austin (same area that has all the truck-driving schools)
There will be updates on initiatives to improve the neighborhood like:
- A request that the North Avenue streetscape be completed between Oak Park and Austin Avenues
- Galewood Farmers Market
- Community newspaper
- New businesses opened/opening
There will also be time for questions and comments.
UPDATE: Filing deadline has been extended to March 14, 2014.
Local School Council elections for all CPS schools are coming up on April 7. If you’re interested in an LSC position (There are seats for parents and community members) your application is due (in person) to your school directly by Wednesday, February 26. Most schools are facing a shortage of applicants, and the LSC is a great way to make a difference at your local school and in your community. More info on positions, requirements, and the application process are right here.
Local charter school Roberto Clemente Elementary is now accepting applications for fall 2014 enrollment. Parents must fill out the application in-person only Monday through Friday between 10 a.m.-2 p.m. only. If you are unable to go at that time try making an appointment by calling the school at 312.455.5425. Applications must be submitted by April 11. Minimal enrollment information is available on the school’s website. Clemente Elementary is located at 2050 N. Natchez Avenue opened in 2012 and is part of the UNO Charter School network.
Austin Weekly News and the Wednesday Journal are hosting a candidate forum for the vacant 1st District Commissioner seat on the Cook County Council. The forum is tomorrow Tuesday, February 25th, at the Oak Park Public Library, 834 Lake Street. The forum starts at 7 p.m. The event is open to the public and is an opportunity for the community to address questions they have for the candidates. All the major candidates are expected to attend including Blake Sercye, Richard Boykin, Issac Carothers, Brenda Smith and Ronald Lawless.
Roundy’s Inc, the parent of Mariano’s Fresh Market, is in talks with Sears about taking part or all of the Sear’s store at the intersection of North Avenue and Harlem Avenue according to Crain’s Chicago Business. Roundy’s has a similar agreement with Sears at 1900 W. Lawrence Avenue where it is building a new store. Mariano’s has been opening stores rapidly in the Chicago area. It opened its first store in Arlington Heights in 2010 and expects to have 29 locations by the end of the year with five more planned for 2015. The store would be a boost to the North Avenue commercial district.
9:30 AM, this Saturday, February 22nd at Rutherford Sayre Park Fieldhouse
Mark March 29th (this is a correction from the last post) on your calendar for the next meeting.
A free performance of Macbeth by Steinmetz High School Drama Club 6:30PM – 8:30PM will take place Thursday February 20th. The play is adapted from the original Shakespeare production by Nancy Lineham Charles. The performance will be in the main auditorium at the high school, 3030 N. Mobile Avenue.