Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
A lot of condos have been listed over the past month. A few quick sales have been keeping the month's supply of inventory stable. It's still deep in a seller's market for the lower priced homes, but as the value of the homes increases so does the supply. The higher priced condos are actually in a buyer's market and have been all year. This past month saw such a large increase in listings that when the spring market comes along, if we see the same spike we normally do those inventory increases could push the entire market toward balanced or a buyer's market. The median sales price for condos over the past month was $557,000 and over the past year it was $415,450.
Price Range: $400,000-$800,000
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Price Range: $800,000+
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Lincoln Park
Housing Type: Townhome
The townhomes started moving super fast. Nearly every recent sale had a market time of less than 1 week. Over the past year the numbers are a little more conservative, but even at that townhomes continue to sell quickly at less than 2 months. As long as this demand keeps up it will be awhile before this seller's market balances out. The median sales price for townhomes over the past month was $525,000 and for the past year it was $690,500.
Price Range: $400,000-800,000
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Price Range: $800,000+
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Lincoln Park
Housing Type: Single Family
We've had a few more houses come to the market, but a few quick sales have helped the month's supply of inventory drop a little. Overall most of these homes are still in a buyer's market. It may be reassuring for sellers to see that over the past year most homes sold in less than 250 days. These are very special homes that cater to a small group of buyers. Sellers will have to be prepared for a long listing time, but with the right price and marketing these homes can sell quickly. The median sales price for single family homes over the past month was $2,102,250 and over the past year it was $1,560,000.
Price Range: $1m-5m
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Price Range: $5m+
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Start your Lincoln Park 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.
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