A Kenilworth market update - prices fall, homes sell

One of our local correspondents, Prudential Rubloff's Taylor Lindstrom, checked in this morning with a report that Kenilworth home sales have picked up.

West of the tracks, Lindstrom reports, two homes closed in March and one in April, and another recently went under contract. The deal of the year, she says, was 515 Kenilworth, a 14-room, 6 bedroom, 4 ½ bath Tudor with an indoor pool. Originally listed in March of 2008 it sold at a "steal deal" price of $910,000. Perhaps the $50,000 annual real estate tax bill was a factor in the low price?

Also west of the tracks 541 Kenilworth came on the market in December of 2007 at $1,400,000. It was reduced this year to $850K and is now under contract.

Two homes on the east side of Kenilworth also recently went under contract. Three short blocks from the lake, 312 Leicester was listed a year ago at just under $4M, was recently reduced to $2,749,000 and quickly went to contract.

Just north of Kenilworth Ave, 416 Sheridan Rd went on the market in June of 2008 at $2.2M, was reduced to $1.5M and is also under contract. The home, which is on just over half an acre, has 5 bedrooms and 4 baths.

Watch the video for more details.

Lindstrom's take is that the spurt of recent sales may be leading to stabilizing prices in Kenilworth.

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