old town: Seller's Market Poised To Continue in Old Town: Neighborhood Update - 12/01/17 01:53 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle 
Housing Type: Condo
A noticeable number of condos have gone under contract since our last report which will push the seller's market into the winter. Most homes are selling in under 3 months. Often this is the time of year when the market slows down, but we have not been seeing that this year. If a seller lists now they will still have a good chance at seeing a low listing time. The median sales price for condos in Old Town was $345,000.
 
Price Range: $400,000-800,000

Price Range: $800,000+

Old Town & Old Town Triangle 
Housing Type: Townhome
Just … (0 comments)

old town: Old Town Sellers Can List & Close Before Year End: Neighborhood Update - 10/12/17 11:50 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle 
Housing Type: Condo
We've seen a slight increase in homes for sale in the $500-600k range, since our last report. It's not enough to greatly affect the month's supply of inventory. Homes are still selling in only a month or two. A seller still has an opportunity to close before the end of the year if he lists now. The median sales price for condos in Old Town was $307,450.
 
Price Range: $400,000-800,000

Price Range: $800,000+

Old Town & Old Town Triangle 
Housing Type: Townhome
There is still plenty of room in this market for more sellers. Buyers are … (0 comments)

old town: When Needed Price for Buyer Investment: Old Town Neighborhood Update - 09/08/17 01:18 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle 
Housing Type: Condo
The seller's market we have been seeing in Old Town continues with low inventory and astonishingly low market times. One home had a market time of 327 days. It sold for $1,100,000 and was originally listed in 2016 for $1.5m while it was being renovated. It was later taken off the market and the renovations were completed. Perhaps the owners hoped someone would come along and buy it before the reno was complete, so they could pick the finishes. When it came back to the market the price was lowered … (0 comments)

old town: Old Town Market Differs from Nearby Gold Coast: Neighborhood Update - 07/12/17 02:57 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle 
Housing Type: Condo
Condos are continuing to sell fast in Old Town which is keeping the seller's market, we've been watching, going strong. Interestingly, this is in contrast to the Gold Coast, the small neighborhood just south of Old Town, which as we saw in our report yesterday, is in a balanced market and in some price ranges even in a buyer's market. This is a great example of how local real estate is. And how even among the many, many neighborhoods in Chicago you can find big differences in how the market … (2 comments)

old town: Great Time to Sell in Old Town: Neighborhood Update - 05/09/17 02:00 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
Overall new inventory hasn't been listed as fast as it has been selling over the past month. This is keeping the condos in a seller's market. In our last report there were 5 properties listed for over $2m. All 5 of them were canceled. They are all part of the same development at 101 W North ave. This is a new construction mid-rise condo building of 10 stories and only 33 units. Currently, 2 of the 4 penthouses are showing as under contract. These homes are scheduled for delivery … (0 comments)

old town: Buyer Demand Continues in Old Town: Neighborhood Update - 04/03/17 06:56 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
The market has been steady over the past month, keeping the month's supply of inventory low. This is good news for the higher priced homes that have 5 month's supply. They are still in a seller's market, but it is balancing out. The other price ranges are much deeper in the seller's market. Even though there was a lot of movement in the the $400-500k range the number of homes that went under contract was very close to the number of new listings, so it is remaining at only … (2 comments)

old town: 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)

old town: Old Town Neighborhood Update: Year in Review 2016-2017 - 01/25/17 05:20 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
We've had a handful of new listings, which as we explained last month, are much needed, but a few of them have already gone under contract! Looking at last month market times have been quite low, under 2 months for the lower priced homes and under 3 months for the higher priced homes. This isn't the fastest moving neighborhood in the city, but it is still quite settled in a seller's market. Traditionally the spring season brings more sellers. If that happens in Old Town this year we could … (0 comments)

old town: Great Opportunities for Sellers in Old Town: Neighborhood Update - 11/22/16 02:37 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
While condo sales in this market have continued to move as fast as last month there weren't very many new listings this month. You may also notice that it looks like a few listings disappeared. There is a new development that canceled a lot of its listings after being on the market for an average of 45 days. Since these are new construction it is possible that the developer decided to take them off the market and will relist them soon to make the listings seem fresh and new. … (2 comments)

old town: Condo Sales Not Slowing in Old Town: Neighborhood Update - 10/25/16 04:34 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
Don't let the average days on market fool you, there has been some very quick movement in the $600-800k range since last month. There were 3 under contract in the $700-800k range and 2 have sold which means 2 have gone under contract and 1 has come to the market. There were 10 available in the $600-700k range and of those 2 have sold and 2 went under contract, meaning 3 have come to the market. An average market time of only 21 days for the 4 condos that … (0 comments)

old town: Still a Great Time to Sell in Old Town: Neighborhood Update - 09/27/16 05:45 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
There has been a nice stream of new listings coming into the condo market in Old Town. Just like last month, homes are still selling fast, with an average market time of under 2 months. Plus, some of the homes that closed still had market times of less than 1 or 2 weeks! This remains a great time to sell in Old Town. There are plenty of buyers and inventory is just low enough to demand higher prices, but not too low for buyers to feel that their choices … (2 comments)

old town: Homes in Old Town Selling in Mere Weeks: Neighborhood Update - 08/29/16 02:34 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
This market is continuing to move at an extremely fast pace. Homes are even selling faster than in the last report. It's really quite phenomenal that the average market time for condos in the $400-500k range sold in only 13 days on average and there were 6 sales! There is some more inventory, but with such short market times a little boost of inventory doesn't do much to balance out this market. It is a seller's market, a great time to sell you home quickly and for a high … (0 comments)

old town: Homes Still Selling Super Fast in Old Town: Neighborhood Market Update - 08/01/16 01:37 PM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
Inventory is on a slight incline in this market, compared with last month. The average market time is just a little longer in the lower price ranges, but with the months supply of inventory still under 5 months for all price ranges it's still a seller's market. In fact the average market time for most of the homes that sold is about a month or less! 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
Last month we … (2 comments)

old town: The Lightning Fast Real Estate Market of Old Town: Neighborhood Update - 06/29/16 06:04 AM
Start your Old Town home search here.
 *Allow me to let you in on a little industry secret. We have two ways of collecting these numbers for you. One is through a reporting program in the MLS called Infosparks. The other is by manually looking up the data in the MLS. Infosparks is great for a quick view of the market, however, if you want to dig deeper you need to go to the actual MLS, look up the data manually and you may find that the numbers don't quite match what you found on Infosparks. Infosparks is updated often, but not as … (0 comments)

old town: Old Town & Old Town Triangle, Chicago Neighborhood Market Update - 05/27/16 06:50 AM
Start your Old Town home search here.
 
Old Town & Old Town Triangle
Housing Type: Condo
The charts this month look almost identical to last month! Of course there have been changes, but homes are selling fast. The $2,000,000+ condos do have a lot of inventory in comparison to the other price ranges and being in the upper tier these homes should always expect a longer market time. Whether it will really take 7 months for all of these homes to find a buyer is hard to say, but since these charts have come available one has gone under contract and it has a market time … (0 comments)

old town: Old Town & Old Town Triangle, Chicago Neighborhood Market Update - 04/28/16 05:12 AM
Start your Old Town home search here.
In this blog series we will 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 … (0 comments)

old town: Old Town & Old Town Triangle, Chicago Neighborhood Market Update - 03/31/16 01:25 AM
 
Start your Old Town home search here.
The most important element in getting your home sold in a timely fashion is pricing it correctly. When you set the right price, you'll be attracting buyers who are looking for exactly the type of home you're offering.
As a buyer or a seller it is vital to understand the specific marketplace you are in. Being a city of neighborhoods Chicago has a slew of different markets. We want to educate you on the different markets and give you the opportunity to watch a variety of them.
In this blog series we will focus on one of … (0 comments)

 
Terri Buseman, Downtown Chicago (RE/MAX Premier Properties)

Terri Buseman

Downtown Chicago

Chicago, IL

More about me…

RE/MAX Premier Properties

Address: 1205 N Dearborn, Chicago, IL, 60610

Mobile: (312) 208-5166

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This blog is about life in the city of Chicago and in particular of the South Loop. The blog will strive to become a valuable source of information regarding real estate, community news and family life in an urban setting.


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