Lincoln Park Housing Type: Condo Since last month there has been a little spike in new listings in the higher price ranges. This is not a common sight during the holiday season. In past years the market has nearly come to a dead stop. However, this has not been a typical year and consumers know it. Market times have been low and inventory has been low, giving sellers the upper hand. This trend is continuing, but the higher priced homes are facing a more balanced market, or in some cases a buyer's market. Sellers of these homes should be … (2 comments)
condominium: Bucktown Homes Selling Fast: Neighborhood Update
- 12/27/16 01:30 PM
Start your Bucktown home search here. Bucktown Housing Type: Condo There has been a noticeable drop in listings since last month. A few homes have cancelled and a new building with 5 listings has also cancelled. Having a whole building cancel all of its listings makes the drop look more dramatic. However, homes are still selling fast. The average market time for closed homes was 13 days. For those under contract it is at 85 days, so far, and the average for homes that are available is currently 87 days. The median sales price for condos in Bucktown was $540,000. Price Range: $400,000-$800,000
Price Range: $800,000+
Bucktown Housing Type: Townhome One listing … (0 comments)
Wicker Park Housing Type: Condo Since last month quite a few condos have closed with low market times, averaging under a month. Only one listing has come to the market, but 8 have been cancelled. The average market time for the ones that were cancelled was 133 days, with the lowest at 84 days and the highest at 228. With so many homes selling at a record pace it is understandable that the sellers of the cancelled listings might be frustrated and might even want to wait until spring. However, there are other tactics they could consider to find a … (0 comments)
Old Town & Old Town Triangle Housing Type: Condo Condos are still selling quickly, but with very few new listings from last month sellers are seeing even less competition. As we approach the new year we expect to see a spike in buyer activity. It happens every year. If you are thinking of selling get ready to list so your house can be new to the market as soon as more buyers start looking. The median sales price for condos in Old Town was $320,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Old Town & Old Town Triangle Housing Type: Townhome With no new inventory, … (0 comments)
condominium: University Village Homes Selling Fast: Neighborhood Update
- 12/19/16 01:42 PM
Start your University Village/Little Italy home search here. University Village/Little Italy Housing Type: Condo There were more closings than expected last month. One home closed for over list price, which moved it up to the $400-500k range. The list price was $395,000 + $25k for parking. If you include parking then the sellers were always asking over $400k for the home, it just didn't register as such on the MLS. In the end the home sold for $410,000. So it was over list price for the home, but if the closing price includes the parking then the buyers saved $10k over asking. The median sales price … (0 comments)
West Loop Housing Type: Condo As we mentioned last month this neighborhood isn't slowing down. Not even the start of the holiday season is keeping buyers from snatching up condos in the West Loop. This busy season might have contributed to fewer listings coming to the market in the past month, but with homes still selling in a month or less sellers have a good reason to list sooner, rather than waiting for spring. The median sales price for condos was $400,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
West Loop Housing Type: Townhome After 99 days on the market, one of the townhome listings was … (0 comments)
Gold Coast Housing Type: Condo We've had a few homes close and a few go under contract since last month, but not very many have come to the market. Inventory levels are still pretty balanced. The holidays might be keeping some sellers from listing right now, but we always see a rise in buyer activity after the new year and that could entice more sellers to list early in 2017. The median sales price for condos in the Gold Coast was $557,500.
Price Range: $400,000-$800,000
Price Range: $800,000+
Gold Coast Housing Type: Townhome Only one townhome has come to the market. The less expensive … (0 comments)
Streeterville Housing Type: Condo We have seen some very quick sales since last month. Overall the average market time for closed condos is 91 days. Of the 21 that sold, 9 sold in under a month! Only 3 homes that are under contract have been active for a month or less. Their average market time is 153 days. For the peak of the holiday season we may see longer listing times. This is pretty common from year to year as many people are busier than normal. After the new year we always see an increase in interest and we don't … (0 comments)
River West/Fulton River District Housing Type: Condo As we showed last month, the slow influx of inventory in this neighborhood is great for sellers. Overall, the average market time for the sold homes was only 30 days! Of the 5 that closed 3 of them sold in less than a week! If you are thinking of selling your condo, don't let the holidaysor cold weather stop you. There are buyers looking in this neighborhood and they are ready to go. The median sales price for condos in River West & the Fulton River District was $290,000.
River North Housing Type: Condo Since last month quite a few condos have gone under contract, but fewer came to the market. When homes sell faster than they are listed the month's supply of inventory goes down. Except for in the $2m+ range, where there is a lot of new construction, this neighborhood has been low on inventory for a very long time. As this seller's market continues sellers can enjoy low market times and increasing value in their homes.The median sales price of River North Condos was $410,000. Price Range: $400,000-$800,000
Price Range: $800,000+
River North Housing Type: Townhome Another home has gone … (0 comments)
New East Side Housing Type: Condo While most of this neighborhood is still selling extremely quickly, as we noted last month, some homes are still taking a while to sell. Condos in the $400-500k range are taking noticeably longer to sell than the other price ranges. One home took 736 days to sell. If we don't include that in the numbers than the average market time for the other closed sales was 121 days. For those that are under contract it's 87 days. There is more inventory in this price range than the others, but it is still … (1 comments)
South Loop Housing Type: Condo For the most part, the trend we were seeing last month, where condos are selling faster than they are coming to the market, is continuing. In the $600-800k range, however, new listings are replenishing the market about as quickly as homes are being sold. The market time among these homes is also quite low. The $800-900k range is having the toughest time. The two homes that sold took 364 days and 200 days. One home that is available has been on the market for 232 days and the other has been available for … (0 comments)
Loop Housing Type: Condo In general condos in the Loop are selling faster than they are being listed. While some of the market times may seem high, just like last month there were a few homes that took a long time to sell, thereby making the average market time seem higher than most homes are seeing. Specifically, in the $400-500k range there was one sale that took 736 days in that time the price of the home dropped from $525,000 to $444,900 and was listed with three different agents. If we don't consider that home the average market time for the … (0 comments)
West Loop Gate Housing Type: Condo Nothing has come to the market since last month and one more condo has gone under contract. The average market time for the sold homes is still very low at 21 days, however, this number will likely creep up as homes that are under contract close. The average market time for condos under contract is 83 days. In the winter months it can take a little longer to sell sometimes, but while these numbers stay below 3 months and the months supply of inventory is less than 6 months it is a good … (0 comments)
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Prairie District Housing Type: Condo A few more condos have come to the market since last month, but there are still so few available that this neighborhood remains in a seller's market. The average market time seems to be going up, for those that are under contract it is 123 days and for the ones that are available it is 102 days. If there were more properties available for the interested buyers to choose from these market times could … (0 comments)
There was very little activity in this neighborhood last month, but since then nearly all of the townhomes have gone under contract! There haven't been any changes with the condos or single-family homes. The average market time for the townhomes that are under contract is 123 days. One townhome listing was canceled after 151 days and the one that is available was just listed this morning. It is comparable to the listing that was canceled, but is listed for $64,000 less. Now that that one is the only townhome on the market the $64,000 … (1 comments)
condominium: Homes Taking Longer to Sell: Wrightwood Sheffield Neighborhood Update
- 12/02/16 11:55 AM
Start your Wrightwood Sheffield/DePaul home search here. Wrightwood Sheffield/DePaul Housing Type: Condo Not a lot has changed since last month. Inventory levels are still steady and low. Some homes are selling quickly and some are taking a few months. Overall, the average market time for sold homes is 59 days, for those under contract it is 123 days, and for those still available it is 127 days. If you are planning to list your condo be prepared for it to take a few months to sell, but there is still a chance it will sell quickly. Turn-key homes tend to sell faster than ones that need … (1 comments)
condominium: Most Condos Still Selling Quickly in Museum Park: Neighborhood Update
- 12/01/16 12:16 PM
Start your Museum Park at Central Station home search here. Museum Park at Central Station Housing Type: Condo As in past months we are still seeing some quick sales among the condos. No matter what market we are in though a short market time is never guaranteed. One home took just under a year to sell. It was originally listed at $1,025,000 and finally sold for $835,000. That's a $190,000 difference. The home looks like it was staged well and a lot of care went into presenting it well. With north, west, and south exposure I'm sure it was easy to make the home bright and … (0 comments)
Roscoe Village Housing Type: Condo As we said last month the low inventory among the condos in this neighborhood is continuing to make it a good time to sell through the end of this year. The low market times are a good sign too. The homes that are under contract do have longer market times, with an average of 80 days, but there are fewer active homes which helps drive demand. The median sales price for condos was $342,250.
Price Range: $400,000-$800,000
Roscoe Village Housing Type: Townhome The one home that is available was listed today. It's a 4b 3.1ba new construction home. Last … (0 comments)
Lakeview East Housing Type: Condo As the Cubs festivities from last month wind down a few more homes have come to the market. Most of the neighborhood is still approaching a balanced market, with some price ranges still in a buyers market and some in a seller's market. In the $700-800k range about half of the condos available are new construction, whereas in the $1-2m range about 1/3 of them are new construction. We have been seeing in the downtown neighborhoods that where there is new construction comparable properties are either in a balanced or buyers market. Oftentimes the … (3 comments)
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