real estate: Selling in Lakeview? Know Your Specific Market: Neighborhood Update - 12/14/17 01:59 PM
Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
Inventory is a little lower since our last report. More homes are selling in only a month or two. Some price ranges still have significantly more inventory than others, so it is important for sellers to not just learn about the neighborhood market, but also how homes are moving within their target price range. For example, there are 30 homes available in the $400-600k range. Of those 12 are priced between $475k-525k. The $400-500k range is at 2.4 month's supply of inventory and the $500-600k range is at 7.7%. Those in the $475-525k range should look a little closer. That range … (2 comments)

real estate: DNAinfo Report Confirmed: Lincoln Park Neighborhood Update - 12/13/17 11:47 AM
Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
The DNAinfo article we mentioned in our last report was correct! Inventory is shrinking and it's most clear in the over $1m range where many homes sold in less than a month. It's hard to say, but perhaps the publicity in DNAinfo helped give the market an extra little push. Either way these condos remain in a seller's market and sellers are enjoying short market times. The median sales price for condos in Lincoln Park was $560,000.
Price Range: $400,000-$800,000

Price Range: $800,000+
 
Lincoln Park
Housing Type: Townhome
The townhome market continues to move fast with only two closings taking … (0 comments)

real estate: Bucktown in Both Buyer's and Seller's Market: Neighborhood Update - 12/07/17 12:56 PM
Start your Bucktown home search here.

Bucktown
Housing Type: Condo
The surge of listings we talked about in our last report have already started to sell through. With homes continuing to sell in less than two months this neighborhood is clearly in high demand! Sellers can be encouraged this winter, no need to wait until spring to sell, the buyers are still out in full surge. The median sales price for condos in Bucktown was $517,000.
 
Price Range: $400,000-$800,000


Price Range: $800,000+

Bucktown
Housing Type: Townhome
The townhomes have sold through again with an average market time of 19 days. … (0 comments)

real estate: Seller's Market Likely to Last Winter: Wicker Park Neighborhood Update - 12/06/17 01:49 PM
Start your Wicker Park home search here.
 
Wicker Park
Housing Type: Condo
Condos continue to sell in around one or two months across the board. The month's supply of inventory has even dropped! December is traditionally one of the slowest months for real estate, but this year is proving that wrong. These homes are so deep in a seller's market that we expect the pace of sales will continue through the winter. The median sales price for condos in Wicker Park was $478,500.  
 
Price Range: $400,000-$800,000

Price Range: $800,000+ 

Wicker Park
Housing Type: Townhome
Can you believe a townhome sold in only a week? These homes continue to be in high demand. The … (0 comments)

real estate: 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)

real estate: Fast & Slow Sales in University Village: Neighborhood Update - 11/30/17 03:21 PM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
A few quick sales have practically demolished the little bit of inventory this market had. The homes that closed in the $400-500k range were new construction. Those that remain on the market are resale and have been listed for over 3 months. Even in the same price range it seems that resale homes and new construction might be in different markets. December tends to be a slow month in real estate. These sellers can try more aggressive strategies to attract a buyer, but they should be prepared for a dip in activity. The median sales price … (0 comments)

real estate: West Loop Condo Market Great for Buyers & Sellers: Neighborhood Update - 11/26/17 08:41 AM
Start your West Loop home search here.
West Loop
Housing Type: Condo
Sellers in the $400-500k range are clearly taking advantage of this hot market we've been watching. Homes are selling in just about a month, but they are also being listed at about the same rate keeping the month's supply of inventory levels very low but also keeping a selection of homes for buyers to choose from on the market. Buyers will have to act quickly once they finda  home they like, but having a few to choose from could make the decision easier. The median sales price for condos in the West Loop was … (0 comments)

real estate: Long Market Times Affect Gold Coast Sales: Neighborhood Update - 11/25/17 09:25 AM
Start your Gold Coast home search here.
 
Gold Coast
Housing Type: Condo
 
While most of the markets in Chicago continue to enjoy a seller's market the condos in the Gold Coast are still in a buyer's market and the market times are increasing. This should not be a cause for panic, but it is very important that the sellers of these homes understand their unique situation. As we see in the $600-700k range homes can still sell very quickly. The key is in the price and marketing. Price your home just a little low and buyers will fight over it. The closer sellers in this market price … (0 comments)

real estate: Low Competition Increases Visibility: River West Neighborhood Update - 11/22/17 09:14 AM
Start your River West/Fulton River District home search here.
 
River West/Fulton River District
Housing Type: Condo
Market times remain low, as we have been seeing, and inventory is not being replenished very fast. The average market time for all of the condos that have sold is only 30 days and for the homes that are available, it is currently 108 days. The buyers that are looking are ready to make an offer and there aren't very many homes to choose from. Sellers will see the majority of the buyer's pool as soon as they list their home. With a great first impression, most homes are likely to sell fast. … (2 comments)

real estate: Faster Sales Lower Month's Supply in River North: Neighborhood Update - 11/20/17 08:46 AM
Start your River North home search here.
 
River North
Housing Type: Condo
Inventory remains low among all of the condos. It has actually dropped, since our last report, among some of the higher priced ones due to a few quick sales. Most homes are taking only 2-3 months to sell. Sellers can aim for a quick sales time by pricing their home close to market value and making sure it shows like a magazine. Buyers tend to like bright spacious homes that show like a model unit in new construction. The median sales price of River North condos was $596,267.
Price Range: $400,000-$800,000
 
 
Price Range: $800,000+

River North
Housing … (0 comments)

real estate: Sellers in a Good Place: New East Side Neighborhood Update - 11/17/17 10:50 AM
Start your New East Side home search here.
 
New East Side
Housing Type: Condo
Inventory remains steady and low in the New East Side, compared to our last report. Most homes have been selling in just under a month. One home shows as having a market time of 508 days, however, if you look at the listing history it only shows as being on the market for about 160 days total. Our best guess is that there was a glitch in the system that calculates these numbers. Overall sellers are in a very good place in this neighborhood. They are all enjoying short listing times and … (0 comments)

real estate: South Loop Townhomes Still Selling in Days: Neighborhood Update - 11/15/17 03:50 PM
aBegin your South Loop home search here. 
 
South Loop
Housing Type: Condo
Inventory levels are remaining stable since our last report. Most homes are taking a few months to sell. However, we are still largely seeing a seller's market among South Loop condos. As we head into the holiday season and the winter months the market can slow down a little bit. Don't let that frustrate you as a seller. Buyers are still out looking and typically those who look in the winter months are more serious about making an offer. The median sales price for condos was $380,000.
 
Price Range: $400,000-$800,000

Price Range: $800,000+
 
South Loop
Housing Type: Townhome
With many … (0 comments)

real estate: Unique Homes May Take Longer to Sell: Loop Neighborhood Update - 11/12/17 11:06 AM
Begin your Chicago Loop home search here.
 
Loop
Housing Type: Condo
As the balanced market we've been watching continues in the Loop a few homes have taken a very long time to sell, but most are selling within three months. One home that took 920 days to sell was one of the last units to sell in The Legacy at Millenium Park, a new high-rise that was developed in the last 6-10 years. The median sales price for condos was $398,000.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+

Loop
Housing Type: Townhome
The two townhomes that are available could hardly be more different. One is a 2b/3.1ba built in 1980. The home is very … (0 comments)

real estate: Inventory Levels Deceiving in West Loop Gate: Neighborhood Update - 11/10/17 02:03 PM
Start your West Loop Gate home search here.
 
West Loop Gate
Housing Type: Condo
Even though this market hasn't slowed down since our last report, or many months before it, the month's supply of inventory in the $400-500k range has spiked from 2.8 to 10 months. The homes that sold had an average market time of only 27 days, but the ones that remain on the market have much longer sales times. Those that are under contract have an average market time of 124 days and those that are available currently have an average market time of 104 days. One was just listed today, the next lowest market … (0 comments)

real estate: Some Townhomes Selling Fast in Dearborn Park: Neighborhood Update - 11/09/17 01:07 PM
Start your Dearborn Park & Dearborn Mews home search here.
 
Dearborn Park & Dearborn Mews
Housing Type: Townhome
While the lack of inventory that we have been talking about among townhomes is continuing we are about to see a few quick sales. The one that sold took 105 days, which is in line with the market times in our last report. However, there are 3 homes under contract and they currently have an average market time of only 27 days. This is hopeful news if you are planning to list your home, but keep in mind that the homes that are still available have an average market … (0 comments)

real estate: Know Your Competition Prarie District Sellers: Neighborhood Update - 11/08/17 11:17 AM
Start your Prairie District Neighborhood home search here.
 
Prairie District
Housing Type: Condo
With condos priced under $800k selling faster than in our last report, at under a week, a seller who lists now might be able to squeak in a closing before the end of the year. It's a possibility, but not something to count on. There haven't been any changes among the higher priced condos and all of the condos that are available in these price ranges have a market time of over 30 days. Buyers are out and looking, but sellers need to make their home picture perfect and price it close to its … (0 comments)

real estate: Sellers in Wrightwood Need to Price for Buyers: Neighborhood Update - 11/04/17 01:14 PM
Start your Wrightwood Sheffield/DePaul home search here.
 
Wrightwood Sheffield/DePaul
Housing Type: Condo
Most condos have continued to sell in a month or less, as we have been seeing. Two homes sold in the $700-800k range, one took 36 days to sell, but the other took 223 days. That home was first listed in February for $950,000 and sold for $725,000. We can't stress enough how important it is for sellers to price their home close to its actual value. It can be tempting to price high in a seller's market, when home values are increasing, but in the end buyers are the ones who determine fair value. That … (0 comments)

real estate: Homes Selling Quickly Across Roscoe Village: Neighborhood Update - 11/02/17 02:32 PM
Housing Type: Condo Roscoe Village
Inventory among the condos remains steady, since our last report, and homes continue to sell in under a month. This market is moving very fast. Sellers need to price their home carefully if they want to sell fast. Buyers will be watching and they will make offers on the best priced homes. The median sales price for condos in Roscoe Village was $349,000. 
 
Price Range: $400,000-$800,000

 
 
Housing Type: Townhome Roscoe Village
There weren't any townhomes in our last report and now two are under contract. This neighborhood is in dire need of more townhomes. They are high in demand.  
Housing Type: Single Family … (2 comments)

real estate: 1 Bedroom Condo with Western Exposure - 11/01/17 03:43 PM
View current inventory of 1+ bedroom condos in Chicago's Near South Side.
Listing Details 
1 Bedroom Condo with West Exposure
61 W 15th 407, CHICAGO, IL 60605
Original List Price: $225,000
MLS number: 09788528
Bedrooms: 1
Bathrooms: 1 
Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.
 
Western Exposure from Every Room
This home stays bright all day long with sun shining in from the west. A u-shaped kitchen provides plenty of room for cabinetry and large counters. Find the washer and dryer directly behind the entryway. Enjoy a view of the skyline from the balcony. New carpeting welcomes you into the bedroom, which also has a walk-in … (7 comments)

real estate: Condo Markets Varied in Lakeview East: Neighborhood Update - 10/27/17 08:59 AM
Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
It doesn't look like there has been a lot of movement in this market since our last report with homes selling at about the same rate they come to the market. Sellers need to be prepared for their sales time to take a few months. They will also want to research their competition. Some price ranges have a little excess inventory and some are still a little low. See the chart at the end of this post to learn about how inventory levels affect prices. The median sales price for condos was $282,250.
 
Price Range: $400,000-$800,000

Price … (0 comments)

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

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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