October 2011 Mid-Month Market Update for Chicago’s Andersonville
Single Family Homes
Listed as new 920 Castlewood Terrace has been on the market for over 370 Days that began with an asking price of $1,350,000 and is now “new” at $899,000. It’s an awesome building and not one to be missed.
However, beyond that, currently Andersonville has roughly 28 listings on the market with no recent activity. Here’s is what the market trend for Andersonville is disclosing to us right now at the mid-Month of October 2011:
- Homes priced between $100,000 to $194,999 have a 14.7 Month Inventory
- Homes priced between $195,000 to $269,000 have a 22.2 Month Inventory
- Homes priced between $270,000 to $349,899 have a 16.6 Month Inventory
- Homes priced between $349,000 and up have a 5.4 Month Inventory
Median Pricing:
Two Bedroom Homes:
- $194,999 and under has a median price of $98,500
(-22.4% Drop from previous October 2010)
- $195,000 to $269,999 has a median price of $210,000
- $270,000 to $349,899 has a median price of $285,000
- $349,000 and up has a median price of $360,000
Three Bedroom Homes:
- $194,999 and under has a median pricing of $166,500
- $195,000 to $269,999 has a median pricing of $227,000
- $270,000 to $349,899 has a median pricing of $305,000
- $349,000 and up has a median pricing of $371,250 (drop in median)
Four Bedroom Homes:
- $194,999 and under has a median pricing of ZIP
- $195,000 to $269,999 has a median pricing of $233,000 (an increase)
- $270,000 to $349,899 has a median pricing of $250,000
- $349,000 and up has a median pricing of $635,000
Pretty much from comparing 3 Bedrooms to 4 Bedroom homes in the $195,000 to $269,900 there isn’t much difference in the medians.
Yet one finds that the three bedroom homes yield a higher median then the four bedroom homes in the $270,000 to $349,899 value range.
When selling your Andersonville home, one needs to consider the condition, the size, the utility and a whole lot of other factors that the appraisers are now required to review and report. That’s why it is so important to have a local Realtor® who sells, works and lives in the area and who keeps abreast of the latest changes in market trends and financing as well.
Have a question? Reach out to me and let’s find a way to yield you satisfaction in your final net selling price.
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