Based on a pretty small market study utilizing median sales price, inventory, and sales volume, and including just 16 cities, Redfin determined that Logan Square is the eighth hottest neighborhood in all the land. And Redfin thinks the heatwave will continue through 2013. It's tops in Chicago, with East Village/Noble Square and Fulton Market finishing second and third. That's pretty much in line with the gut feeling around town. By the numbers, Logan Square's for-sale inventory dropped 10% year-over-year (December to December), its closings leaped 94%, and median price per square foot rose 20%.
Why all the hubbub? A concise perspective from Redfin agent Greg Whelan sticks to the generic: "Logan Square has many attractive features, including wide park-like boulevards, a unique mix of housing types, public transportation, bike and walking paths, progressive local shops and a really cool vibe. The convenience of two Logan Square blue line stops makes it a destination for those wanting to get more for their money." Thing is, these broad brush strokes work wonders on newcomers.
·Which Neighborhoods Will Be the Hottest in 2013? [Redfin]