Dearborn Park Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your Dearborn Park & Dearborn Mews home search here.

 

Dearborn Park & Dearborn Mews

Housing Type: Condo

Condos in Dearborn Park haven't seen any activity over the past month. We can see that over the course of the year homes have been selling very quickly. The average market times have remained at 4 months or less and some homes even sold in a matter of days. There have been so many more buyers than sellers that the month's supply of inventory hasn't been much over 3 months in any price range. With such little inventory it will still be awhile before condos in this neighborhood approach a balanced market.

Price Range: $400,000-$800,000 

Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
  Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends

Price Range: $800,000+

                                                                                   
 

 

Dearborn Park & Dearborn Mews

Housing Type: Townhome

Townhomes have been selling even faster this year. The month's supply of inventory has barely reached 1 in many price ranges and most homes have sold within 3 months. This area is hot and there isn't more room for development, so it will be awhile before the market turns in favor of the buyer.

Price Range: $400,000-800,000 

Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends

Price Range: $800,000+

                                                                                  
 

 
 Dearborn Park & Dearborn Mews

Housing Type: Single Family Home

The single family homes are even harder to come by in this neighborhood. One sold with a market time of 189 days. Another home was listed, but that listing was cancelled after 252 days. Dearborn Park is mostly townhomes, so the buyer pools are going to be larger for the mid-priced townhomes than for any other type of property. As prices increase fewer buyers can qualify for a home, so it often takes longer to sell, even if there is only 1 on the market.

Price Range: $800,000+

                                                                                   Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
  Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends 


Start your Dearborn Park & Dearborn Mews 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!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Illinois Cook County Chicago Dearborn Park
Groups:
ActiveRain Network Referral Base
Chicagoland and Northern Illinois Real Estate
Local Expert
Market Reports
Hyper-Local
Tags:
condo
chicago
market
update
condominium
townhouse
single family home
single family
trends
real estate
south loop
townhome
single family house
dearborn park

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
191,662

Terri Buseman

Downtown Chicago
Ask me a question
*
*
*
*
Spam prevention

Additional Information