Roscoe Village Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your Roscoe Village home search here.

 

Roscoe Village

Housing Type: Condo

Last month we talked about the demand for condos in this neighborhood and how it is a good time to sell. Being January, we decided to do a side-by-side comparison to show activity from the past month as well as across the past year. As we can see, the month's supply of inventory has remained extremely low and most homes that go under contract close. Market times have even remained close to a month for most properties, which keeps the condos in this neighborhood in a strong seller's market. The median sales price for condos was $262,500 over the past month and for the past year it is $425,000.

 

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

Roscoe Village Chicago Real Estate Market Trends
Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends

Price Range: $800,000+

Roscoe Village Chicago Real Estate Market Trends
  Roscoe Village Chicago Real Estate Market Trends

Roscoe Village

Housing Type: Townhome

All year townhomes have been flying off the market. There have been very few listings and currently there are only two in the $1-2m range. Both of these homes are new construction and have only been on the market for about a month. Judging by how quickly townhomes have been selling over the past year there is a good chance that these homes will find buyers soon. The median sales price for the past year is $737,000.

 

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

                                                                                            
  Roscoe Village Chicago Real Estate Market Trends

Price Range: $800,000+

Roscoe Village Chicago Real Estate Market Trends  
Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends

Roscoe Village

Housing Type: Single Family

Clearly it is good that there is a lot of new construction among the single family houses. About half of the listings are new construction and for so much of the year the $1-2m range has had about 10 months of inventory, but it is looking like as buyers comb through the inventory it is settling down. Currently the month's supply for that range is 6.7 and over the course of the year it has averaged at 8 months. The median sales price for single family homes was $1,395,750 and over the past year it is $1,107,500.

 

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

Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends
Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends


Price Range: $800,000+

Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends
Roscoe Village Chicago Real Estate Market Trends Roscoe Village Chicago Real Estate Market Trends


Start your Roscoe Village 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 doesn't 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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Rainmaker
1,346,358
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

This is a great post. Thanks for sharing and best of luck in the new year!

Jan 03, 2017 04:49 PM #1
Rainmaker
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Terri Buseman
RE/MAX Premier Properties - Chicago, IL
Downtown Chicago

Thanks! Happy new year!

Jan 04, 2017 09:22 AM #2
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Rainmaker
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Terri Buseman

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