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Wednesday, December 25, 2024

Burbank home prices rise in the first quarter of 2017

Realestate077

The median sale price of a home sold in the first quarter of 2017 in Burbank rose by $10,000 while total sales decreased by 2.8%, according to BlockShopper.com.

From January through March of 2017, there were 69 homes sold, with a median sale price of $170,000 - a 6.3% increase over the $160,000 median sale price for the same period of the previous year. There were 71 homes sold in Burbank in the first quarter of 2016.

The median sales tax in Burbank for 2017 was $4,382.47. In 2016, the median sales tax was $3,999. This marks an increase of 9.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.6%.

The following table compares Burbank to other Cook County cities with similar median sales prices in the first quarter of 2017:

CityJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
Streamwood1551540.6%$180,000$157,25014.5%
Orland Hills231553.3%$179,000$215,000-16.7%
River Grove363116.1%$176,500$130,00035.8%
Stickney1821-14.3%$173,750$142,00022.4%
Bridgeview433813.2%$173,000$150,00015.3%
Burbank6971-2.8%$170,000$160,0006.3%
Melrose Park745242.3%$169,500$163,2503.8%
Evergreen Park6171-14.1%$169,500$145,00016.9%
Tinley Park19215325.5%$168,500$168,0000.3%
Hanover Park614148.8%$168,000$160,0005%
Forest Park615217.3%$165,000$163,7500.8%

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