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What Is My Chicago, IL South Loop Condo Worth?

By
Real Estate Agent with Berkshire Hathaway HomeServices Koenig Rubloff Realty Group - Chicago, IL

 

Chicago, IL South Loop January 2016 Market

The Chicago area was spared from a deep freeze for much of January 2016. Thanks to El Nino, we even enjoyed several springlike days.  But it is still winter after all so a few snowy days were inevitable. Compared to the last few years of Polar Vortex, I'll take it!

 

South Loop condo sales volume also warmed up compared to January 2015. January 2016 volume for South Loop zip codes 60605 and 60616 was about 46% higher than January 2015. (This information is a comparison of January only, not for the entire 12 months of 2015). 109 properties went on the market this January. That was a 35% increase from 81 new listings in January 2015.

 

Despite an increase in volume, January's average sales price saw a bit of a cool down. The average price of units sold was $393,867. That is down 9.75% from 2015's average sales price of $436,442.  

 

Chicago, South Loop January 2016 Market Trends

  • There were 38 sales of condos/townhomes in January 2016. These consisted of:

    • Eleven 1-Bedroom

    • Nineteen 2-Bedroom

    • Six 3-Bedroom

    • Two 4-Bedroom

Chicago, IL South Loop January 2016 Market Statistics

On any given weekend in January, the South Loop saw a steady parade of buyers and their agents. Open houses reported very good traffic. Will that continue into February?  Will the February market deliver valentines to South Loop sellers? Will available inventory set buyers' hearts aflutter?  Stop by again next month to see if Cupid was kind to the South Loop real estate market. 

 

In the meantime, if you're ready to call Chicago's South Loop home, click here to see current properties for sale. If there's something you'd like to see in person, I'm just a phone call or an email away. 

Posted by

  

 

Karen Winters, Broker Associate
Berkshire Hathaway HomeServices
KoenigRubloff Realty Group
1800 N Clybourn, 2nd Fl
Chicago, IL  60614
Office:    312-268-2753
Mobile:  312-725-4498

Email:  kwinters@koenigrubloff.com

Website: ChicagolandCondosandHomes.com

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Comments (6)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello karen,  So glad that the weathers is not bad there this winter.  Buyers and sellers should be calling you to take care of them.

Feb 15, 2016 09:08 AM
Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff
Berkshire Hathaway HomeServices Koenig Rubloff Realty Group - Chicago, IL - Chicago, IL
Chicago, IL

Hi Will Hamm. Thank you! The nice weather was perfect for taking my clients on walking tours of South Loop properties.  

Feb 15, 2016 10:57 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff Good to hear that Chicago market is doing well. 2016 will be a great year!

Feb 20, 2016 10:06 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

Sorry I'm so late to this party, Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff!  Great info here on the South Loop Condo market.  Chicago is known for its great variety and supply of condos.  You serve a growing and important market ...

Gene 

Feb 29, 2016 02:06 AM
Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi may the party never end. Here's to good friends! 

Mar 13, 2016 05:29 AM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Hello again Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff 

I saw a comment you made on another post so I had to come visit.  Hope all is well with you and that business is keeping you busy

Mar 08, 2016 05:47 AM
Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff

Hi Mary, not as busy as could be but activity is picking up as the temps go up.  Open house activity has been great!

Mar 08, 2016 05:50 AM
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Hi, Karen...I love your picture. What a great view of Chicago. 

This is great real estate market information for anyone thinking of buying or selling a condo in Chicago. Of course the buyers and sellers should call you for your wonderful market knowledge. 

Mar 10, 2016 11:08 AM
Karen Winters, Berkshire Hathaway HomeServices KoenigRubloff

Thanks Debbie Laity!  Hope you are having a great weekend!

Mar 13, 2016 05:29 AM