Winter Sales Looking Strong for West Loop Condos: Neighborhood Update

By
Real Estate Agent with RE/MAX Premier Properties

Start your West Loop home search here.

 

West Loop

Housing Type: Condo

The West Loop has not slowed down yet. Just like last month, all of the condos remain in a seller's market. Most price ranges only have 1-2 months of inventory. Only the higher priced homes, $900k+ are taking a few months to sell, but they too are selling quickly. Don't concern yourself with seasonality in this neighborhood. It is showing no signs of slowing down. If you are thinking of listing your home go ahead, there are plenty of buyers ready to move in! The median sales price for condos was $372,250.

 

Price Range: $400,000-$800,000 

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

 

West Loop

Housing Type: Townhome

While one townhome that sold last month took 88 days it looks like market times are still pretty low on average. The average market time for all of the sold townhomes is 57 days and for the ones under contract it is 58 days. Homes that need the least amount of work tend to sell faster, so it is important to bring your home as up to date as you can before selling it. This doesn't mean you should do a whole remodel, but sometimes small fixes, like updating the outlets and light switches can make a big difference in how the home shows. The median sales price for townhomes was $1,145,561.

 

Price Range: $400,000-800,000

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

 

West Loop

Housing Type: Single Family

There have been no changes among the single family homes.

 

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

 

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 does have houses) 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.


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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Terri Buseman

Downtown Chicago
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