Start your Streeterville home search here.
Streeterville
Housing Type: Condo
The condo market in Streeterville is moving pretty smoothly. The numbers are all very close to the same as last month, as home sell new ones come to the market. We are certainly seeing some low market times, but the average market time for active condos is 140 days and for those under contract it is 138 days.
Price Range: $400,000-$800,000
Streeterville
Housing Type: Condo
Price Range: $800,000+
There is still a high number of condos available in the $2m+ range. However, this range goes from $2.1-8.5m. That's a huge spread. There are now two condos under contract in the $2m+ range, since these tables were made available. They are both in the $3-4m range and have an average market time of only 56 days. There are 11 condos in the $2-3m range that are active. They have an average market time of 228 days so far, however, one has been on the market for 901 days. Removing that from consideration the average market time drops to 97 days. The active condos in the $3-4m range have an average market time of 85 days so far. If you are thinking of selling your luxury condo there will be competition, but if you price it for the market it will be more likely to move quickly.
The median sales price for condos in this neighborhood was $409,500.
Streeterville
Housing Type: Townhome
Price Range: $400,000+
One other townhome has come to the market since these charts were made available. At first it's striking. It is a neighbor to the one priced at $1.2m, but it is only $839,900. They have the same number of beds and baths and the association dues are identical. The higher priced one is 200 sf larger, but that's not what dictated the nearly $400k difference. The difference is in a land lease! The higher priced home includes the land and the lower priced one has a land lease of $758/mo. One can purchase the land for $379,000 which makes the price of the home and land $1,218,900, comparable to its neighbor at $1.2m.
Start your Streeterville home search here.
*In this blog series we 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.
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