Buyer’s market

The rapid growth of condominiums and townhouses in Woodlawn have sparked fears that the neighborhood’s poorest residents will be driven out by condo conversions and rising rents due to inflating real estate values. Between 2000 and 2004, the number of single- family attached units sold in Woodlawn tripled. While the sale of traditional single-family detached homes did not increase as sharply, the average cost of those homes tripled in Woodlawn between 2000 and 2004.


Notes: Single-family attached homes are those sharing a wall with another home or unit, like most condominiums or town houses. Single-family detached homes are free-standing homes that do not share a wall with another home. Source: Chicago Association of Realtors

Comments are closed.