Local Realtors See Uptick in 19th Ward Housing Market

If you think those “For Sale” signs around the neighborhood are popping up and disappearing with more frequency, you’re not imagining it. The flourishing housing market can take credit for that.

“Oh gosh, [the housing market] is five times better than a few years ago,” Larry O’Shaughnessy of O’Shaughnessy Realtors said. “Last year we sold five [homes] in July, this year 25. We’re using up all the inventory.”

Mary Ellen Fitzgerald of Fitzgerald Real Estate agrees. “It’s looking very positive. There’s an increase in activity and sales,” she said. “Since October it’s been busier.”

The country, the Chicago area and the Mt. Greenwood and Beverly neighborhoods have all seen upticks in the housing markets, according to recent statistics. According to the Beverly Area Planning Association, the number of year-to-year single family home sales this past January was the highest since 2004 in the Beverly and Morgan Park areas.

“Things started to pick up at the end of 2012…[but] we didn’t see an increase in price then,” Marcia Walsh, the BAPA Housing Coordinator said.

Although realtors acknowledge that houses are getting snatched up more quickly than before, that doesn’t necessarily mean that sellers should expect huge sale prices.

“Sellers should still be realistic,” Fitzgerald cautioned. “They should have their houses completely ready. Pay attention to having it in tip-top condition, take care of all the little things they’ve been meaning to get around to.”

O’Shaughnessy, though, encouraged sellers to bump up their prices because of the rapid going rate. “Look for a higher value than you thought you could get,” he said. “The market fluctuates so much.”

Similarly, he advised buyers to “get in the market now and start buying before the quality homes are gone…You can’t make low offers now,” he said.

Buyers should “make sure they’re pre-approved and ready to act,” Fitzgerald said. “They should decide what their priority list in terms of finding a house.”

Walsh encouraged sellers to stay in the neighborhood. “We have beautiful housing, great transportation, parks, the Beverly Arts Center, diverse populations, school, historical districts and special events,” she said. “You can walk for days and not see the same house.” 

According to BAPA’s surveys of homeowners, 59 percent of respondents put friends and family as their biggest factor for moving to Beverly, followed by schools and safety.