Start your River North 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 let me know if you would like a personal assessment of your target market.
River North
Housing Type: Condo
Price Range: $400,000-$800,000
River North
Housing Type: Condo
Price Range: $800,000+
There are many more homes under contract and sold than we saw last month. However, there are just about as many homes for sale. It's good that clearly some more have come to the market, but inventory is still low. Good homes are selling fast. Buyers will want to be prepared to make a move as soon as they see something they like.
You will notice a spike in expired listings among the higher priced homes. Most of the expired listings are in the new development, The Ritz Carlton Residences, a 40-story, 89 home development. 31 of these homes have sold with a median sales price of $1,785,914.
The median sales price for condos in River North was $422,500.
River North
Housing Type: Townhome
Price Range: $600,000+
Just like last month these homes are moving fast. There was one sale in the $600-700k range with a market time of 105 days. The home that sold in the $1-2m range had a market time of 123 days. There is only one more listing than there were last month, not a lot of choice for buyers. Sellers will want to put thier best face forward!
River North
Housing Type: Single Family Home
Price Range: $2,000,000+
There have been no changes in the single family market in River North. The home listed between $2-3m has a market time of 211 days and the one between $4-5m has a market time of 171 days.
Start your River North home search here.
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