Start your West Loop home search here.
West Loop
Housing Type: Condo
We all know the phrase location, location, location. Well, the West Loop certainly has that down, its phrase must now be replenish, replenish, replenish. Just take a look at last month's numbers and you will see. In the $400-500k price range there were 23 listings under contract and 13 available. Now, 21 have closed, there are 18 under contract, and another 11 for sale. And that is only 0.8 months supply of inventory. The average market time for all of the condos in this area was only 29 days, those that are under contract have an average of 45 days and those that are available have an average of 53 days so far, and this is across all price ranges above $400,000. The median sales price of condos in the West Loop was $329,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
West Loop
Housing Type: Townhome
The story of townhouses in the West Loop is much the same. Granted there are fewer, but they are moving just as fast. It's almost laughable that the spike in market time is only 68 days. That was just for one home. The average market time for all of the townhomes that sold is only 20 days. If you are planning to sell make your home look like a million bucks, price it to the market, and be prepared for a quick listing. The median sales price for townhomes in the West Loop was $622,500.
Price Range: $400,000-800,000
Price Range: $800,000+
West Loop
Housing Type: Single Family
Last month there weren't any single family homes on the market and now the two that came up are already under contract! One, listed for $799,000 is a 4b/2.1ba that has a market time of 45 days. The other is a 4b/4.1ba listed for $1,500,000 has a market time of only 2 days. Demand for real estate is up across the board in the West Loop.
Price Range: $400,000-800,000
Price Range: $800,000+
Start your West Loop 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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