West Ridge - Chicago Community Area 2

West Ridge or West Rogers Park is a neighborhood located on the north side of Chicago, Illinois. It is bordered on the north by Howard Street, on the east by Ridge Boulevard, Western Avenue, and Ravenswood Avenue, on the south by Bryn Mawr Avenue and Peterson Avenue, and on the west by Kedzie Avenue and the North Shore channel of the Chicago River.

According to the Northern Illinois MLS there were 115 sales of detached homes in the West Ridge neighborhood in 2007. The average sales price was $430,533.00 with an average marketing time of 128 days on the market.

Prices rose slightly over 2006 when the average sales price was $431,500.00, however, the marketing time average was only 76 days in 2006, with 130 sales. Things are slowing down.

As of January 1st there were 88 active listings of single family homes. At the current rate of absorption there is 9+ months of available inventory.

For attached homes and condominiums there were 544 sales in 2007. The average sales price was $222,783.00 with an average marketing time of 147 days on the market.

Prices rose 3.54% over 2006 which had an average of $214,893.00. The volume of sales was similar in 2006 had 543 sales. Marketing times were longer than 2006 which had an average of 111 days on the market.

There are currently 482 active attached homes/condo's. The current absorption rate is 45.33 sales per month so there is 10+ months of available inventory.

West Ridge was still appreciating in 2007, the current level of listings is an oversupply, however, the market in this neighborhood is in much better condition than other parts of Chicago.

Citywide Services provides residential appraisal service in West Ridge. Our appraisers are state certified and have experience with single family homes, townhouses, condominiums as well as small residential income properties. For all your Chicago appraisal needs contact Citywide. To order an appraisal or to speak with an appraiser call 1-800-405-9718 HOME Today's Inman News Today's Featured Community