central station: Museum Park Neighborhood Update: Year in Review 2016-2017
- 01/04/17 11:21 AM
Start your Museum Park at Central Station home search here. Museum Park at Central Station Housing Type: Condo Last month we talked about homes that take a long time to sell. Looking at the market times for the sales this month they are also fairly long. However, as it is a new year, we decided to include charts that look at the past 12 months of activity. In that we can see a lot of low market times, most ranging around 2 months. Also, for the most part, the month's supply of inventory has remained extremely low, at about 2 months or less in every price range … (0 comments)
Museum Park at Central Station Housing Type: Condo Despite a couple of quick sales over the last month there hasn't been a lot of activity among the condos. This is causing the month's supply of inventory to increase, which has been needed for some time. The time it takes to sell a condo in this neighborhood isn't taking too long though. Overall the average market time for the homes that sold is 94 days, for those that are under contract it is 142 days, and for the available homes it is 105 so far. The median … (0 comments)
Museum Park at Central Station Housing Type: Condo For the most part average market times are even slower than last month. The most activity we have seen is in the $400-700k range where nearly 10 properties have come to the market and 8 have gone under contract and/or sold. This activity is keeping the month's supply of inventory down, which means the market could handle more listings. It looks like the month's supply of inventory dropped significantly in the $1-2m range, but remember last month we had a sale that took 275 days. Since the sale … (2 comments)
Museum Park at Central Station Housing Type: Condo Last month we talked about how quickly the condos were moving in Museum Park. They've seemed to slow down a bit this month with most homes averaging about 2 months. There is one that took 275 days to sell. While one wouldn't expect to see such a high market time in a seller's market it does still happen. We have seen it in a few other neighborhoods and by looking at the listing we can sometimes learn about why a home might not sell. In this case it's … (0 comments)
Museum Park at Central Station Housing Type: Condo Last month it looked like the condos in the $1-2m range were starting to collect inventory, but now those homes are being sold and inventory is climbing slightly in the $500-600k range. Both of those price points have 3.9 months of inventory. While that is a lot compared to the other price ranges it is still low in general and everything is in a seller's market. The homes in the $1-2m range took the longest to sell, 375 days and 260 days. In general, these homes might have … (0 comments)
central station: Museum Park at Central Station, Chicago Neighborhood Update
- 05/06/16 04:16 AM
Start your Museum Park at Central Station home search here. In this blog series we will focus on one of twenty neighborhoods in Chicago, each day, and provide charts to give you a brief update on the activity that neighborhood has seen over the past month in a variety of price ranges for Single Family Homes, Townhouses, and Condos, as available. When looking at these charts please keep in mind that not every housing type is available in every neighborhood (the Loop only has condos) and some homes compete within even smaller subsections than these, meaning we can dig even further in this data. Please … (0 comments)
central station: Museum Park at Central Station, Chicago Neighborhood Update
- 04/08/16 06:20 AM
Start your Museum Park at Central Station home search here. The most important element in getting your home sold in a timely fashion is pricing it correctly. When you set the right price, you'll be attracting buyers who are looking for exactly the type of home you're offering. As a buyer or a seller it is vital to understand the specific marketplace you are in. Being a city of neighborhoods Chicago has a slew of different markets. We want to educate you on the different markets and give you the opportunity to watch a variety of them. In this blog series we will focus on one … (0 comments)
This blog is about life in the city of Chicago and in particular of the South Loop. The blog will strive to become a valuable source of information regarding real estate, community news and family life in an urban setting.
Start your Museum Park at Central Station home search here.
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