Start your Old Town home search here.
Old Town & Old Town Triangle
Housing Type: Condo
While condo sales in this market have continued to move as fast as last month there weren't very many new listings this month. You may also notice that it looks like a few listings disappeared. There is a new development that canceled a lot of its listings after being on the market for an average of 45 days. Since these are new construction it is possible that the developer decided to take them off the market and will relist them soon to make the listings seem fresh and new. If you are thinking of selling this is a great time to list. It is the holiday season, which means buyers will have some downtime to browse the market with their families. This is a great time for buyers to daydream about their perfect home which gives sellers the opportunity to make that dream a reality! The median sales price for condos in Old Town was $307,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Old Town & Old Town Triangle
Housing Type: Townhome
While there have been some quick sales among the townhomes some listings are also expiring. In the $400-500k range the listing expired after 82 days and in the $800-900k range one home expired after 106 days. However, the average market time for the homes that are under contract is 162 days. With hardly any choices in each price range it could take awhile for a home to sell. There may be plenty of buyers looking, but if the one home available isn't the one they want they could look elsewhere. This does provide a good opportunity for someone who wants to list their house. The key will be to make the home as move in ready as possible to help cast a wide net for buyers. The median price for townhomes was $810,000.
Price Range: $400,000-800,000
Price Range: $800,000+
Old Town & Old Town Triangle
Housing Type: Single Family
There haven't been many changes among the single family homes. A few have gone under contract and they have an average market time of 234 days. Those that are active have an average market time of 280 days. These homes have a similar fate as the townhomes, in that there aren't very many for buyers to choose from, save the $1-2m range. Plus, in this neighborhood, when you start looking above the $2m range the homes become more unique. Buyers who look for these homes often have the luxury to wait until the home that suits their tastes becomes available. As a result, sellers will always want to prepare for longer listing times.
Price Range: $600,000-1m
Price Range: $1m+
Start your Old Town 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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