Start your New East Side home search here.
The most important element in getting your home sold in a timely fashion is pricing it correctly. But 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 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 let me know if you would like a personal assessment of your target market.
New East Side
Housing Type: Condo
Price Range: $400,000-$800,000
New East Side
Housing Type: Condo
Price Range: $800,000+
New East Side
Housing Type: Townhome
Price Range: $800,000+
There were 3 sales in the $1,000,000+ range. There is one current listing for over $2,000,000 and 5 listings under contract in the $1,000,000+ range.
This market is moving fast! Most of the sold homes were only available for not much more than a month. The month's supply of inventory is extremely low for these homes as well. Keep in mind that it takes 6 months of inventory to have a balanced market. This is a seller's market. Bidding wars will be more common and home values will increase.
Start your New East Side home search here.
For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!
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