Lincoln Square has seen some activity in the condo arena for the Month of March, 2010. 2 Bedrooms with 1 or 2 baths ranged from $269,000 to $310,000 in list price that went under contract this month.
Upper Bracket Condominiums in the $599,000 Price Range also went under contract.
On the whole, the average listing price was $288,688 with 130 average amrketing time. The highest list price was $359,900, not including the three upper bracket condominiums, which, when included would give a "false" median or "false" AVERAGE OF $310,000.
Without the highend condominiums the highest listing that went under contract was $359,900 and the lowest, a one bedroom was at $199,900. The average list price for these condominiums minus the upper bracket ones is $279,809 with an average market time of 130 days.
There were no Short Sales or Foreclosures in the pending, under/contract, attorney/inspection condominiums.
The boundaries used were 4400 north to 5000 north and 2000 west to 2400 west here in Lincoln Square. If one uses the MLS Area "8004", that pulls in Bowmanville, part of Albany Park and part of North Center. This month end market analysis is for Lincoln Square's Prime Condominium Neighborhood.
Now, if one includes the entire MLS Area "8004" which is defined as Lincoln Square but includes Bowmanville, part of Albany Park, the tip of North Center there were 62 properties that went under contract this month with an average market time of 173 days. The high end listing again was $599,900 and the minimum listing was $22,900. The average selling price is $237,592!
There were a flood of short sales in the Bowmanville neighborhood focusing on Farragut west of Western as well as on California in Albany Park.
March and April have always been the biggest selling months for Lincoln Square, whether it be single family homes, condominiums or 2-4 Unit Properties. From what I am seeing, Lincoln Square is holding its own in closed record sales. Way to go!
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