market: It's Time to Sell in University Village: Neighborhood Update
- 03/31/17 08:27 AM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
There hasn't been a lot of movement among the condos over the past month. The average market times remain low at 85 days for active listings and 89 for those under contract. There continues to be more buyers than sellers in this neighborhood. Sellers are going to enjoy this spring. Even if they get a little competition this neighborhood will likely remain in a seller's market for the year.
Price Range: $400,000-$800,000
University Village/Little Italy
Housing Type: Townhome
The townhomes also have not seen a lot of movement in the past month. The most activity is … (0 comments)
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market: Buyer Demand is Sky High in the West Loop: Neighborhood Update
- 03/30/17 12:21 PM
Start your West Loop home search here.
*We apologize for the delay in our daily market updates. We have had some technical issues.
West Loop
Housing Type: Condo
The West Loop market did not slow for a second since last month. The most striking price range is the $400-500k market. In that range 21 additional homes went under market or sold and the average market time was only 19 days. Even more surprising is that none of these condos are new construction. The average market time for those under contract and currently available is a little higher at 47 and 41 days, respectively, but even that is … (2 comments)
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market: Gold Coast Sellers Must Price for Visibility: Neighborhood Update
- 03/24/17 01:19 PM
Start your Gold Coast home search here.
Gold Coast
Housing Type: Condo
The Gold Coast condo market is continuing to show a rather balanced market. Most of Chicago is in a sellers market and, technically, some of these homes are too. However, a balanced market means there is 6-7 months of inventory and all of these condos have more than 5 months of inventory. The higher price ranges even have as much as 10, meaning they are in a buyer's market. It is very important for sellers to understand how many similar homes are available so they can decide how fair or aggressive to price their … (2 comments)
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market: Inventory Steady in Streeterville: Neighborhood Update
- 03/23/17 12:16 PM
Start your Streeterville home search here.
Streeterville
Housing Type: Condo
Last month we warned that if there is a surge in new listings we may see a balanced market among the Streeterville condos. We haven't seen a surge this month. Most price ranges are flowing smoothly with about as many homes going under contract and selling as coming new to the market. It looks like there is extra inventory in the $2m+ range, but nearly half of those homes are in the new construction building, One Bennett Park, scheduled for delivery in 2019. The median sales price for condos in Streeterville over the past month was … (0 comments)
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market: New Construction In Seller's Market: River North Neighborhood Update
- 03/21/17 01:46 PM
Start your River North home search here.
River North
Housing Type: Condo
Much of the market is moving at such a smooth pace that even though homes are being listed they have been going under contract at the same rate over the past month. This is keeping the months supply of inventory down among most of the condos. There is a lot more inventory in the $1m+ ranges, but over half of listings are in new construction buildings. The new construction has been needed, but even among those properties it is still a seller's market. The median sales price of River North condos was $425,000.
Price … (0 comments)
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market: Buyers Searching in New East Side: Neighborhood Update
- 03/17/17 09:00 AM
Start your New East Side home search here.
New East Side
Housing Type: Condo
Just a few more homes came to the market than went under contract over the past month, but not enough to make a big difference in the month's supply of inventory. We saw the biggest difference in the $500-600k range and the $1-2m range where there was only one sale each to base the inventory on. These homes are all still in a seller's market, there is more demand for these homes than there are homes available. A seller's market is when the month's supply of inventory is less than 6 months. … (0 comments)
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market: Sell Your South Loop Condo Before Spring: Neighborhood Update
- 03/16/17 08:27 AM
Begin your South Loop home search here.
South Loop
Housing Type: Condo
Just a few more homes came to the market than went under contract and sold since last month. It's hardly been enough to push inventory levels up, but homes are taking a few months to sell, so as we move into the spring market we may see it start to balance out. If you want to sell quickly now is the time to do it. List your home before the spring market hits and make sure it is decluttered, marketed well, and priced fairly. You will have a better chance at selling while … (3 comments)
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market: More Condos for Sale in the Loop: Neighborhood Update
- 03/15/17 12:58 PM
Begin your Chicago Loop home search here.
Loop
Housing Type: Condo
We've seen a welcome spike in listings since last month, pushing most of the neighborhood towards a balanced market. In many neighborhoods around the city we are seeing this mostly through new construction, but only 39 of the condos for sale are in Vista tower, the newest condo skyscraper to break ground downtown. There are 28 condos for sale in Legacy, but this newer building is at closeout prices and 97% of it has sold. As a result, some of the homes for sale in that building are already resale. Buyers in the Loop will … (0 comments)
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market: A Few More Homes Available in West Loop Gate: Neighborhood Update
- 03/14/17 12:52 PM
Start your West Loop Gate home search here.
West Loop Gate
Housing Type: Condo
We've seen a slight increase in inventory over the past month, but with an average market time of only 16 days for the 3 homes that sold the month's supply of inventory has hardly budged. Last year Zillow named this the hottest neighborhood in Chicago and we can see, as 2017 is underway, that there are still many buyers ready to move in. Seller's have a great opportunity to go under contract quickly. They will need to price their home for the market and make it look good. Even with low inventory buyers … (0 comments)
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market: Dearborn Park Home Under Contract in 3 Days: Neighborhood Update
- 03/13/17 12:00 PM
Start your Dearborn Park & Dearborn Mews home search here.
Dearborn Park & Dearborn Mews
Housing Type: Condo
No homes have sold in Dearborn Park over the past month. In fact, only one condo has come to the market in these price ranges. It is a 2b/2ba penthouse that has been on the market for 22 days. With floor to ceiling windows, two terraces, and skyline views, this one may not last long.
Price Range: $400,000-$800,000
Dearborn Park & Dearborn Mews
Housing Type: Townhome
Two townhomes have gone under contract. One has a listing time of 165 days, but the other has only been on the market for 6 days and was … (0 comments)
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market: Inventory Increasing in Prairie District: Neighborhood Update
- 03/10/17 02:38 PM
Start your Prairie District Neighborhood home search here.
Prairie District
Housing Type: Condo
Condos in the Prairie District are still moving at a pretty steady pace, as we discussed last month. In the $400-500k range, where there were multiple closings, we can see it still took an average of 4 months for the homes to sell. As we predicted this pace is slowly pushing up the month's supply of inventory. In the spring months we usually see an increase in sellers. If that happens this year this market will stay on track towards balancing out. The median sales price for Prairie District condos was $378,500.
Price … (0 comments)
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market: More Single Family Homes for Sale in Sheffield: Neighborhood Update
- 03/09/17 12:31 PM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
Condos in the Wrightwood Sheffield neighborhood are holding steady since last month. Nearly the same number of homes came to the market as went under contract keeping the inventory levels as is. The seller's market continues, but spring is not here yet. We could see parts of this market balance out if some more homeowners decide to sell. The median sales price for condos was $549,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Wrightwood Sheffield/DePaul
Housing Type: Townhome
There are more townhomes available, which is good for buyers, but there still aren't many choices. The $1-2m range is the only price range, … (2 comments)
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market: Museum Park Sales Are Hot: Neighborhood Update
- 03/08/17 08:41 AM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
A slight increase in inventory over the past month is a welcome sight in this neighborhood. There continues to be a lot of demand for homes in the South Loop and Museum Park has some of the most sought after real estate. The price range with the greatest increase in inventory is the $1-2m range and most of these homes are in One Museum Park East, a stunning glass tower that overlooks the Lake, Grant Park, and the skyline. Many buyers will be excited to see the choices … (0 comments)
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market: Roscoe Village Single Family Homes Balanced Market:Neighborhood Update
- 03/07/17 12:42 PM
Start your Roscoe Village home search here.
Roscoe Village
Housing Type: Condo
As we noted last month, this market is still moving fast. Condos are going under contract at a similar rate as they are coming to the market. The average market time of the two homes that sold in the $400-500k range is pretty high, but one of them took 347 days, which is a long sales time in any market. A better indicator of how quickly homes are selling in this price range might be the average market time of homes that are under contract. It is currently 73 days and that is among 5 … (0 comments)
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market: Lakeview East Condos Selling Fast: Neighborhood Update
- 03/06/17 02:28 PM
Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
In the lower price ranges we are seeing a few more homes come to the market than go under contract, but it's not a huge difference. The biggest change since last month was the $400-500k range where 18 homes went under contract and 21 homes came to the market. It's almost like there was a complete turn over of listings. The average market time for the ones that are under contract is only 38 days. While the average market time for those that sold is 72 days. Sellers can still sell quickly if they … (0 comments)
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market: Plenty of Buyers in Lincoln Park: Neighborhood Update
- 03/03/17 03:00 PM
Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
Over the past month in nearly every price range either the same amount or more condos came to the market than went under contract. These homes have been selling very fast, in 3 months or less for most of them. They are still in a buyers market, so a little added inventory is quite welcome. The largest increase in inventory is in the $400-500 range where 18 listings became active. Even at that the months supply is still low at 2 months. The median sales price for condos in Lincoln Park was $499,950.
Price Range: … (0 comments)
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market: Listings Moving Fast in Bucktown: Neighborhood Update
- 02/28/17 03:48 PM
Start your Bucktown home search here.
Bucktown
Housing Type: Condo
Condos continue to sell quickly, as we saw last month. With market times and month's supply of inventory at around or less than a month the seller's market is looking like it will continue for quite some time in this neighborhood. The exception is in the $1m+ range. The 2 homes with the longest list time are new construction. One of the resale homes went under contract after only 43 days. Nothing else in resale has gone under contract or closed in the past 6 months, which makes the months supply of inventory harder to gauge. … (3 comments)
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market: Buyer's Flocking to Wicker Park: Neighborhood Update
- 02/28/17 12:08 PM
Start your Wicker Park home search here.
Wicker Park
Housing Type: Condo
Even in the new year this market is not slowing down. Most of the condos that are under contract in the $400-500k range were not on the market last month. The same is true for condos priced over $800k. Overall market times are still under two months. Sellers don't need to wait to spring fo the buyers to come out, they are ready and searching! The median sales price for condos in Wicker Park was $390,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Wicker Park
Housing Type: Townhome
Only one townhome came to the market over the last month, but … (0 comments)
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market: Sellers Study the Market Carefully: Old Town Neighborhood Update
- 02/27/17 11:19 AM
Start your Old Town home search here.
Old Town & Old Town Triangle
Housing Type: Condo
There has been a notable increase in listings and condos going under contract over the past month. A few of them are in a new development at 1317 N Larabee, but that complex only has 14 condos. Currently, among the condos listed for $400k+ the average market time is only 68 days and the market time for those that are under contract is 74 days. This number might even decrease as these homes close. Of the 23 that are under contract nearly half have a listing time of under … (0 comments)
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market: Sellers Will Love Spring in University Village: Neighborhood Update
- 02/24/17 03:08 PM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
Only a few condos have come to the market since last month. Market times are still pretty low with an overall market time of 118 days for closed condos and 88 days for those under contract. This is keeping the month's supply of inventory very low too. It will be a great spring for sellers, as there are plenty of buyers looking in this neighborhood. The median sales price for condos was $372,675.
Price Range: $400,000-$800,000
University Village/Little Italy
Housing Type: Townhome
More townhomes came to the market in these price ranges, but there is still … (0 comments)
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Start your University Village/Little Italy home search here.
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