real estate: DNAinfo Says Lincoln Park Luxury Condos Are Hot: Neighborhood Update - 10/26/17 02:42 PM
he Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
Inventory levels are holding steady since our last report. You may have seen an article in DNAinfo yesterday about the booming luxury condo market in Lincoln Park. Condos for over $1m are indeed in a good market. Among the seven condos that sold in the past month the average market time was only 63 days. Month's supply of inventory is 4.7 which is a seller's market, but it is close to a balanced market, which is 6-7 months. This means there aren't too many homes on the market, but buyers do have a … (0 comments)

real estate: Strong Seller's Market Throughout Wicker Park: Neighborhood Update - 10/16/17 09:19 AM
Start your Wicker Park home search here.
 
Wicker Park
Housing Type: Condo
Most of the homes that sold took an average of a month or two to sell. This is a little longer than we were seeing in our last report, but the month's supply of inventory remains low at under 4 months. Some sellers might notice that the market is a little slower, but it is still moving quite quickly. We do want to mention one listing we noticed. It has only been on the market for 19 days, but it was listed at $999,999. This is a pricing strategy we have talked about before. … (0 comments)

real estate: 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)

real estate: Tucked Away Townhome in Dearborn Park - 10/11/17 11:26 AM
View current inventory of 2+ bedroom condos in Chicago's Near South Side.
Listing Details 
2 Bedroom Dearborn Park Townhome
1214 S Federal E, CHICAGO, IL 60605
Original List Price: $475,000 or rent $2,600
MLS number: 09772658 or rent 09772659
Bedrooms: 2
Bathrooms: 1.1
Square Footage: 1,357 
Call Terri Buseman at 312-208-5166 to see if this property is still available and arrange a showing.
 
Tucked Away in Dearborn Park
Escape the bustle of downtown in the park-like setting of Dearborn Park. All the windows face the courtyard, offering quiet views of the treetops. This spacious home opens to a family room on the first floor with access to the powder room. The second floor is the main living … (0 comments)

real estate: New Construction Helps University Village: Neighborhood Update - 10/08/17 10:15 AM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
Like last month condos are taking about 3 months to sell. They are selling for 98.6% of asking price. So, sellers are pricing their homes pretty close to market value. The neighborhood is still in a seller's market, but most homes are taking just a little bit of time to sell. The median sales price for condos in University Village was $312,750.
 
Price Range: $400,000-$800,000 

University Village/Little Italy
Housing Type: Townhome
A lot of the townhomes are new construction and many of those have long market times. Resale homes are still selling in a matter of months, … (0 comments)

real estate: Condo Sellers Priced Right in the West Loop: Neighborhood Update - 10/08/17 09:30 AM
Start your West Loop home search here.
West Loop
Housing Type: Condo
Sellers continue to enjoy short listings times as we have been seeing in the West Loop. Not only are market times typically under a month, but homes are also selling for asking price. There are plenty of buyers and most sellers are taking advantage of that by listing their homes for market value. The median sales price for condos in the West Loop was $435,388.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+
 
 
 

West Loop
Housing Type: Townhome
The time that it is taking townhomes to sell ranges from a few weeks to a few months, even in the same price range. Sellers … (0 comments)

real estate: Sale Price Lower Than Original Asking: Gold Coast Neighborhood Update - 10/07/17 09:24 AM
Start your Gold Coast home search here.
 
Gold Coast
Housing Type: Condo
 
The buyer's market we mentioned in the last report continues among Gold Coast condos. Some people get intimidated when the hear the term buyer's market. However, in this case we are looking at a market that is just barely in the category of buyer's market. Homes are taking a couple of months to sell, but they are selling at 94.2% of asking price. If you are a seller, to set yourself up for selling closer to asking price consider listing your home for the amount the comps say it should sell at and not more. With more … (2 comments)

real estate: One Streeterville Sale Changes Look of the Market: Neighborhood Update - 10/06/17 10:37 AM
Start your Streeterville home search here. 
 
Streeterville
Housing Type: Condo
In our last report, the month's supply of inventory for the $400-500k range was 3.8. This month, after only 3 sales, it has jumped to 9.5, even though there are only 2 new listings. Of those three sales one home sold in 6 days, one sold in 32 days, and the other sold in 698 days. Currently, the average market time for the homes that are under contract is 166 days. This is a great example of how one listing can have a big effect on how the overall market looks. Had the third home sold … (0 comments)

real estate: Condos Continue to Sell Fast in River West: Neighborhood Update - 10/05/17 11:37 AM
Start your River West/Fulton River District home search here.
 
River West/Fulton River District
Housing Type: Condo
Most homes continue to sell in less than two months and the month's supply of inventory is three months or less for River West condos. This is steady in comparison to our last report. Condos move fast in this neighborhood. They are in high demand which keeps the prices up. It is a great market for sellers. Now is a great time to list if you want to sell before the end of the year. The median sales price for River West condos was $433,250.
 
Price Range: $400,000-$800,000
.
Price Range: $800,000+

 
River West/Fulton River District
Housing Type: Townhome
A few townhomes … (0 comments)

real estate: Longer Listing Times For River North Townhomes: Neighborhood Update - 10/04/17 12:53 PM
Start your River North home search here.
 
River North
Housing Type: Condo
The condo market in River North has been steady since our last report. A drop in the month's supply of inventory in the $800-900k range was due to one sale that only took 21 days. When inventory is low, as it's been, you may see this measurement take large swings like that. It is difficult to measure the month's supply when you can only measure it by homes that are only selling every month or two. The measurement often becomes how long that home had been listed. However, we can still tell that inventory … (0 comments)

real estate: New East Side Sellers In Good Position: Neighborhood Update - 10/01/17 09:50 AM
Start your New East Side home search here.
 
New East Side
Housing Type: Condo
The New East Side is continuing to enjoy low inventory and low market times. Sellers are in a good position in this neighborhood. There is a  little competition, but not too much and having a few homes to choose from gives buyers confidence in their choice. The higher price ranges are seeing a more balanced market. However, most of those condos are in Vista Tower, the new highrise with delivery starting in 2019. The median sales price for condos in the New East Side was $560,000.
Price Range: $400,000-$800,000

Price Range: $800,000+

 
 Start your New East … (0 comments)

real estate: Some South Loop Condos Seeing a Balancing Market: Neighborhood Update - 09/30/17 11:46 AM
Begin your South Loop home search here. 
 
South Loop
Housing Type: Condo
We are seeing a slight increase in inventory since our last report. Some of the higher price ranges are just at the cusp of a balanced market. This is good for buyers and sellers. When buyers have some homes to compare they feel more confident in making a decision. Sellers may see a slight increase in market times, but if they can encourage a fast sale by pricing the home fairly and making the home look beautiful, spacious, and up to date. The median sales price for condos was $314,312.
 
Price Range: $400,000-$800,000

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

real estate: Super Rare 5-Townhome Unit for Sale in the Loop: Neighborhood Update - 09/28/17 01:31 PM
Begin your Chicago Loop home search here.
 
Loop
Housing Type: Condo
Most of the Loop is enjoying the balanced market we have been watching take form. Most homes are taking just under two months to sell. This is a great position for both buyers and sellers as buyers have a few choices making them more confident to make an offer on the home they love. The median sales price for condos was $330,000.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+

Loop
Housing Type: Townhome
An extremely rare townhome has come to the market in Dearborn Park. The development of white townhomes just south of Printer's Row was built in 1983 at the beginning of the … (0 comments)

real estate: Many Homes Selling In Just Days: West Loop Gate Neighborhood Update - 09/28/17 12:14 PM
Start your West Loop Gate home search here.
 
West Loop Gate
Housing Type: Condo
This fast moving market has not slowed down all year. In fact the homes that closed sold much faster than last month. Even though many homes are selling in a matter of days a few are still on the market more than 100 days after listing. Owners of these homes should take a good look at their listing and marketing. Sometimes all it takes is a price drop, a minor face-lift such as paint or new carpeting, or a little staging or even virtual staging to help potential buyers see the possibilities in … (0 comments)

real estate: Dearborn Park Houses One Turn-Key One Fixer-Upper: Neighborhood Update - 09/27/17 03:34 PM
Start your Dearborn Park & Dearborn Mews home search here.
 
Dearborn Park & Dearborn Mews
Housing Type: Townhome
Townhomes have seen the slightest increase in inventory. It's only been enough to make about one home available in each price range. Such a severe lack of competition for sellers is not helping market times. Buyers have seen all the inventory, so sellers may have to wait for new buyers to come look at the market. Market times haven't been drawing on too long, however. The average market time for sold homes is 143 days and for those under contract it is currently 131 days. The median sales price among townhomes was … (2 comments)

real estate: List In Prairie District To Sell Before Year End: Neighborhood Update - 09/23/17 08:30 AM
Start your Prairie District Neighborhood home search here.
 
Prairie District
Housing Type: Condo
Inventory is about as low as it was in our last report. Buyers have the easiest time in the $500-700k range where there are the most homes to choose from. Seller's should be aware that most homes are taking just a couple of months to sell. If a seller plans to move before the end of the year now is the time to list. The median sales price for Prairie District condos was $330,000.
 
Price Range: $400,000-$800,000
 
Price Range: $800,000+
Prairie District
Housing Type: Townhome
The townlhomes that sold took longer than in our last report. Almost all … (0 comments)

real estate: Fast Sales Continue in Wrightwood Sheffield: Neighborhood Update - 09/21/17 12:42 PM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
Market times continue to be low, as does the month's supply of inventory. As we were noting last month this neighborhood is still very much in a seller's market. There was a small spike in listings in the $500-600k range, but the two homes that sold in that price range had an average sales time of only 7 days. We expect this market will continue at this pace through the end of the year. The median sales price for condos was $480,000.
Price Range: $400,000-$800,000

Price Range: $800,000+

Wrightwood Sheffield/DePaul
Housing Type: Townhome
A few more listings have come to … (0 comments)

real estate: Some Competition Among Museum Park Townhomes: Neighborhood Update - 09/20/17 02:12 PM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
Just like we noted last month the condo market in Museum Park is pretty steady. Market times are averaging 1.5-2.5 months. Condos are still in a seller's market and if this rate continues we can expect that to last through the year. The median sales price for condos in Museum Park was a little higher at $525,000.
 
Price Range: $400,000-$800,000

Price Range: $800,000+
 
Museum Park at Central Station
Housing Type: Townhome
Townhomes have nearly sold out in every price range except for the $1-2m homes. The 5 homes that are available in this price … (0 comments)

real estate: Roscoe Village Homes Selling Very Fast: Neighborhood Update - 09/17/17 10:46 AM
Roscoe Village
Housing Type: Condo
There is the slightest uptick in inventory since our last report, but it's not enough to change the market. Condos are still selling in under a month. This is great for sellers, but buyers need to stay on their toes and be ready to make an offer as soon as they find a home they like or they might miss it! The median sales price for condos in Roscoe Village was $400,000. 
 
Price Range: $400,000-$800,000

Price Range: $800,000+
Housing Type: Single Family Roscoe Village
There hasn't been a lot of activity among the single family homes. Three of the four homes that sold … (2 comments)

real estate: Higher Inventory Among Some Lakeview East Condos: Neighborhood Report - 09/16/17 09:09 AM
Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
Inventory levels are holding steady since our last report. The $500-600k range and homes listed over $900k are all in a balanced or buyer's market. This is good news for buyers. These markets see fewer bidding wars and buyers tend to have a little more time to think about a home before making an offer. The median sales price for condos was $248,750.
 
Price Range: $400,000-$800,000

Price Range: $800,000+
 
Lakeview East
Housing Type: Townhome
Inventory of townhomes is still extremely low and only two of the homes that are listed are comparable. The average market time for those under … (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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