WE’RE ALMOST BACK!
The moment we have all been waiting for, the recovery. I am here to tell you that we rapidly returning to our former glory in Washington Park. If you look at the average price per square foot in East Wash Park, that number peaked in 2008 at $382/sf. For the first half of this year, through June, we were at $378/sf.
Inventory dropped a little this month. If the low inventory continues to push prices as much as it did the first half of the year, we are likely to finish the year at or above the 2008 mark.
We also saw a resale home sell this month at $1,430,000. Although we have seen new construction custom homes and homes on oversized lots sell for more, we haven’t seen a resale at that level for almost 2 years. This one sold in 30 days, not bad. Let’s hope this is a sign for good things to come for the high end also.
