Prairie District Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your Prairie District Neighborhood home search here.

 

Prairie District

Housing Type: Condo

There wasn't a lot of activity since last month. As this is a new year we decided to also chart these homes over the past 12 months. It's pretty interesting to see that over the course of this whole year there has only been one condo on the market for over $800k and it is currently available. Overall, the month's supply of inventory in this neighborhood has been extremely low at just around 2 months. Low inventory pushes prices up, but sellers should be careful to let the market determine their price or they could be sitting on overpriced property for a long time. The median sales price for Prairie District condos over the past month was $342,000 and for the past year it is at $332,500.

 

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

Prairie District Chicago Real Estate Market Trends
Prairie District Chicago Real Estate Market Trends Prairie District Chicago Real Estate Market Trends

Price Range: $800,000+

Prairie District Chicago Real Estate Market Trends

Prairie District

Housing Type: Townhome

Even with two new townhome developments to boost the inventory in this neighborhood the month's supply over the course of the year has remained at less than two months for every price range. In so many other neighborhoods when we see new construction the month's supply of inventory jumps up to near normal levels (6-8 mos). This shows that townhomes in the Prairie District are highly sought after. Which is great news for anyone who is looking to sell. The median sales price for Prairie District townhomes was $1,195,666 over the past month and for the year it is $720,000.

 

Price Range: $400,000-800,000

Prairie District Chicago Real Estate Market Trends Prairie District Chicago Real Estate Market Trends
  Prairie District Chicago Real Estate Market Trends

Price Range: $800,000+

Prairie District Chicago Real Estate Market Trends Prairie District Chicago Real Estate Market Trends
Prairie District Chicago Real Estate Market Trends Prairie District Chicago Real Estate Market Trends

Prairie District

Housing Type: Single Family

Single family homes are so rare in this neighborhood that there were only four on the market this whole year. Two of them cancelled and it looks like the other two will both have sold soon. We'll see if the two that were cancelled come back again, maybe in the spring. The home that sold closed at $1,862,500.

 

Price Range: $800,000+

Prairie District Chicago Real Estate Market Trends Prairie District Chicago Real Estate Market Trends
  Prairie District Chicago Real Estate Market Trends

Start your Prairie District Neighborhood 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 free market report.

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Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Nice looking report.

Jan 11, 2017 10:22 AM #1
Rainmaker
191,662
Terri Buseman
RE/MAX Premier Properties - Chicago, IL
Downtown Chicago

Thank you!

Jan 11, 2017 02:24 PM #2
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Rainmaker
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Terri Buseman

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