New East Side Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your New East Side home search here.

 

New East Side

Housing Type: Condo

There wasn't a lot of activity over the past month. A few listings expired and not too many more were brought to the market. Coming out of the holiday season this is pretty typical. Since it is a new year we created graphs to show the market trends over the past 12 months. We can see that the condos have continued to be in a hot seller's market with less than 3 months of inventory. The biggest addition to the neighborhood is Vista Tower, which just broke ground in September. You will notice that over the course of the year 95 properties went under contract in the $1-2m range, but only 22 have closed. Nearly all of these homes are in Vista Tower which has an expected delivery date of 2019-2020. So, even though it will be a long time before these buyers can move into their new homes inventory in this neighborhood continues to get snatched up. The median sales price for condos in the New East Side was $548,250 over the past month and $436,500 over the past year.

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

New East Side Chicago Neighborhood Real Estate Market Update New East Side Chicago Neighborhood Real Estate Market Update
New East Side Chicago Neighborhood Real Estate Market Update New East Side Chicago Neighborhood Real Estate Market Update

Price Range: $800,000+

New East Side Chicago Neighborhood Real Estate Market Update New East Side Chicago Neighborhood Real Estate Market Update
New East Side Chicago Neighborhood Real Estate Market Update New East Side Chicago Neighborhood Real Estate Market Update

New East Side

Housing Type: Townhome

Price Range: $800,000+

There are very few townhomes in the New East Side, but the park setting and convenience to the Loop is very attractive to some buyers. This is why the two homes that did sell were only listed for a few weeks. The median sales price was $2,047,500.

                                                                                    New East Side Chicago Neighborhood Real Estate Market Update
New East Side Chicago Neighborhood Real Estate Market Update

Start your New East Side home search here.

 

 


For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!

 

*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.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Market Trends
Location:
Illinois Cook County Chicago New East Side
Groups:
ActiveRain Network Referral Base
Chicagoland and Northern Illinois Real Estate
Local Expert
Market Reports
Hyper-Local
Tags:
condo
chicago
condominium
townhouse
loop
real estate
townhome
new east side

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