Old Town Needs More Listings: Neighborhood Update

By
Real Estate Agent with RE/MAX Premier Properties

Start your Old Town home search here.

 

Old Town & Old Town Triangle

Housing Type: Condo

Condos are still selling quickly, but with very few new listings from last month sellers are seeing even less competition. As we approach the new year we expect to see a spike in buyer activity. It happens every year. If you are thinking of selling get ready to list so your house can be new to the market as soon as more buyers start looking. The median sales price for condos in Old Town was $320,000.

 

Price Range: $400,000-$800,000

Old Town Triangle Chicago Real Estate Market Trends

Old Town Triangle Chicago Real Estate Market Trends

Price Range: $800,000+

Old Town Triangle Chicago Real Estate Market Trends

 

Old Town & Old Town Triangle

Housing Type: Townhome

With no new inventory, but townhomes continuing to sell buyers are running out of choices. When there aren't many homes to choose from buyers will come in ready to make an offer. However, if the home is not what they are looking for they might check out a different neighborhood. If you are planning to sell you can be sure that every buyer for whom your home might fit will see your listing. If it is priced well and staged beautifully you could have a quick sale. The median price for townhomes was $781,000.

 

Price Range: $400,000-800,000

Old Town Triangle Chicago Real Estate Market Trends

Old Town Triangle Chicago Real Estate Market Trends

Price Range: $800,000+

Old Town Triangle Chicago Real Estate Market Trends

Old Town Triangle Chicago Real Estate Market Trends

 

Old Town & Old Town Triangle

Housing Type: Single Family

As with the condos and townhomes, houses are selling, but new listings are not coming to the market. With an average market time of only 55 days in the $2-3m range it is clear that buyers are looking in this neighborhood. They are even interested in different kinds of houses. Of the three sales one home was built in 1886, one was built in 2007, and one was new construction. If you are thinking of selling don't be concerned if your home isn't the same as the other listings. These buyers like variety. Even the homes that are under contract were built between 6-100+ years ago! The median price for single family homes was $2,525,000.

 

Price Range: $600,000-1m

Old Town Triangle Chicago Real Estate Market Trends

 Price Range: $1m+

Old Town Triangle Chicago Real Estate Market Trends

Old Town Triangle Chicago Real Estate Market Trends

 

 

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.

 


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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