real estate: Fast Sale Likely, Not Guaranteed in Lincoln Park: Neighborhood Update - 09/15/17 03:20 PM
Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
Like last month the month's supply of inventory is creeping up slightly, but homes in the lower price ranges are selling in 1-2 months. The higher priced homes are taking closer to three months to sell, on average. There was a spike in inventory among the $800-900k homes. Most of the new listings are new construction, of a variety of developments. The median sales price for condos in Lincoln Park was $395,000.
Price Range: $400,000-$800,000

Price Range: $800,000+
 
Lincoln Park
Housing Type: Townhome
Despite a couple of long sales here and there townhomes continue to move very fast. The … (3 comments)

real estate: Buyer's Market for $1-2m SFHs in Bucktown: Neighborhood Update - 09/14/17 10:46 AM
Start your Bucktown home search here.

Bucktown
Housing Type: Condo
A surge of listings in the $400-600 range has not been enough to get Bucktown out of the seller's market we described in our last report. With a month's supply of inventory of under 2 months in most price ranges it looks like it will be quite some time before the inventory levels build up enough to balance the market. The median sales price for condos in Bucktown was $278,000.
 
Price Range: $400,000-$800,000


Price Range: $800,000+
 
Bucktown
Housing Type: Townhome
Again, there aren't any townhomes available and when they do come to … (0 comments)

real estate: Change In Season Not Seller's Market: Wicker Park Neighborhood Update - 09/13/17 12:56 PM
Start your Wicker Park home search here.
 
Wicker Park
Housing Type: Condo
The month's supply of inventory is up slightly, but homes are still selling in under a month, in many cases. This just shows that the strong seller's market we saw in our last report is her to stay awhile. Even though the season is changing and the summer selling season is coming to an end sellers in this neighborhood are not seeing a slowdown. There is plenty of room for more sellers and many sellers will see a quick closing. The median sales price for condos in Wicker Park was $422,000.  
 
Price Range: $400,000-$800,000

Price … (0 comments)

real estate: 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)

real estate: Seller's Market Continues in University Village: Neighborhood Update - 09/08/17 11:04 AM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
As we saw in our last report market times are continuing to increase a bit. Currently the average market time for homes that are under contract is 131 days and for those that are available, it is 122 days. However, inventory levels remain super low at less than 3 months in each price range. Unless there is a rush of new listings the seller's market will likely continue through the year. 
 
Price Range: $400,000-$800,000 
University Village/Little Italy
Housing Type: Townhome
Half of the townhomes that are under contract are new construction. Even with that the seller's … (2 comments)

real estate: No Cool Down For West Loop Market: Neighborhood Update - 08/31/17 07:52 AM
Start your West Loop home search here.
West Loop
Housing Type: Condo
Inventory among the lower priced condos is still rising slightly since our last report, but strong sales have lowered it among the $1m+ condos. In both cases, we continue to be in a seller's market with average market times of only about a month or so. The West Loop has been booming over the past few years with some of the city's top restaurants lining Randolph Street and the addition of the Morgan El stop. These attractions and its proximity to downtown are keeping the West Loop as one of the most desirable … (0 comments)

real estate: Great Time for Streeterville Buyers & Sellers: Neighborhood Update - 08/24/17 01:24 PM
Start your Streeterville home search here. 
 
Streeterville
Housing Type: Condo
As we were seeing in our last report much of Streeterville is in a balanced market and the higher priced condos, $1m+ are just barely in a buyers market. This downtown neighborhood may have a lot more inventory than most, but with average market times of just around a month or two the demand to live in Streeterville remains quite high. This makes a great opportunity for both buyers and sellers. There is a good variety of homes for buyers to choose from and sellers who list their home to sell are selling quickly. The median sales price … (0 comments)

real estate: Low Inventory Sells River West Homes in Any Season:Neighborhood Update - 08/24/17 12:30 PM
Start your River West/Fulton River District home search here.
 
River West/Fulton River District
Housing Type: Condo
The homes that sold did so very quickly, but there are now more homes on the market than there were in our last report. However, inventory remains extremely low. If you are thinking about selling and think you missed the summer market it's ok, there is still time to list. Homes may not traditionally sell as fast in the off season, but with such little inventory the seasonality of the market is subdued. Buyers who come out even after the summer months tend to be more serious about finding a home. Serious buyers … (0 comments)

real estate: Design & Finishes will Sell River North Townhomes: Neighborhood Update - 08/24/17 10:19 AM
Start your River North home search here.
 
River North
Housing Type: Condo
The seller's market we have been seeing continues with the higher priced homes pushing into a balanced market. Average market times in the lower price ranges are remaining between 1-2 months. This is great news if you want to sell your home fast. A fast sale is never guaranteed, so be sure to price it for the market and stage it well. The median sales price of River North condos was $415,000.
Price Range: $400,000-$800,000
 
 
 
Price Range: $800,000+

River North
Housing Type: Townhome
The townhomes that are available are representative of only a few developments. Buyers will likely choose … (0 comments)

real estate: Most New East Side Condos Selling in 1-2 Months: Neighborhood Update - 08/24/17 08:59 AM
Start your New East Side home search here.
 
New East Side
Housing Type: Condo
Many price ranges are continuing to push towards a balanced market, as we saw in our last report. However, with market times of only 1-2 months sellers are still enjoying short listing times. One home noticeably took over 900 days to sell. It was on and off the market since 2014, during which time the asking price was most often at $799k. Its last asking price was $789k + $50k for parking and it sold for $769k including parking. We can only imagine how much more quickly it would have sold if … (0 comments)

real estate: South Loop Townhomes Just as in Demand as Ever: Neighborhood Update - 08/23/17 04:47 PM
Begin your South Loop home search here. 
 
South Loop
Housing Type: Condo
Inventory levels have either dropped slightly or stayed about the same since our last report. Market times have been pretty low too. In the $700-800k range and the $1-2m range the last homes to close took approximately 150 days to sell however, the homes that are under contract in those categories have an average market time of only about 100 days. We tend to see a seasonal slow in the market as the summer wraps up, but with such low inventory to begin with this could be a great opportunity for sellers to move quickly. The … (0 comments)

real estate: Loop Market is Steady: Neighborhood Update - 08/13/17 02:12 PM
Begin your Chicago Loop home search here.
 
Loop
Housing Type: Condo
The balanced market we were seeing take form in our last report is holding steady. This makes this market great for buyers and sellers of homes priced over $600k. The seller's market is still strong among the lower priced homes where not only is the inventory low homes are also selling at a fast pace. Buyers need to be ready to make a decision when they find a home they like. The median sales price for condos was $335,000.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+

Loop
Housing Type: Townhome
All of the townhomes that are available are in Dearborn Park. More homes … (0 comments)

real estate: Seller's Market Continues in West Loop Gate: Neighborhood Update - 08/11/17 03:46 PM
Start your West Loop Gate home search here.
 
West Loop Gate
Housing Type: Condo
The market is continuing at the same pace as our last report. Many homes are still selling in just under a month or two. However, a few homes have been on the market for over 100 days. Even in a hot seller's market homes need to be priced fairly and well presented. Buyer's have a lot of information at their disposal and they will wait or look elsewhere if the homes that are available are not priced well. The median sales price for condos last month was $339,000.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+
 
Start your West Loop … (0 comments)

real estate: Townhome Inventory on the Rise in Dearborn Park: Neighborhood Update - 08/10/17 12:16 PM
Start your Dearborn Park & Dearborn Mews home search here.
 
Dearborn Park & Dearborn Mews
Housing Type: Townhome
Market times are ultra low, which doesn't indicate that the inventory is on the rise. However, there are a few more townhomes listed since our last report and the average market time of those that are listed is 80 days. Although inventory is still quite low this market might be slowing down a touch which will give it some much needed time to build back up. The median sales price among condos was $500,000.
 
Price Range: $400,000-$800,000 

Price Range: $800,000+

Dearborn Park & Dearborn Mews 
Housing Type: Single Family
A few houses have come to the … (0 comments)

real estate: Inventory Declining Among Prairie District Condos: Neighborhood Update - 08/09/17 02:10 PM
Start your Prairie District Neighborhood home search here.
 
Prairie District
Housing Type: Condo
In general, inventory has been declining among condos, since our last report. It looks like there is a spike in the $600-700k range, however, most of the homes that are listed have been listed for less than a month. The last sale in this price range was about three months ago. The homes that are under contract currently have market times of 13 days and 40 days. The month's supply of inventory could drop when these two homes close. The median sales price for Prairie District condos was $365,025.
 
Price Range: $400,000-$800,000

Price Range: … (0 comments)

real estate: Market Times Vary Widely Among Wrightwood Houses: Neighborhood Update - 08/06/17 02:00 PM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
Condos continue to sell fast and in some price ranges the month's supply of inventory is even lower than it was in our last report. While there were a few homes that took over 100 days to sell over 80% of the homes that closed sold in less than 100 days, in fact, most of them took less than 40 days to sell. More of the active homes have been on the market for over 40 days, but 65% of them have been on for less than 100 days so far. We could see … (0 comments)

real estate: Museum Park Market Steady: Neighborhood Update - 08/05/17 12:43 PM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
The condo market in Museum Park has been holding steady since our last report. The seller's market continues and homes are taking about 100 days to sell. There haven't been significant changes in inventory levels or market times, so it's likely that the seller's market will continue through the fall season. The median sales price for condos in Museum Park was $485,000.
 
Price Range: $400,000-$800,000

Price Range: $800,000+
 
Museum Park at Central Station
Housing Type: Townhome
Although one townhome took 315 days to sell the average market time for those that are under contract … (0 comments)

real estate: Townhomes Sold Out in Roscoe Village: Neighborhood Update - 08/04/17 04:14 PM
Roscoe Village
Housing Type: Condo
Condo sales have not slowed down a bit since our last report. Buyers need to be ready to jump! There were 7 sales in the $400-500k range last month and the average market time for all 7 of those sales was only 6 days. It's no wonder the median sales price was $418,000. 
 
Price Range: $400,000-$800,000

Roscoe Village
Housing Type: Townhome
After 218 days on the market the last townhome sold in Roscoe Village. Townhomes are now sold out! There were a few listings that cancelled over the past two months, so we might see them come back to the market. The home … (0 comments)

real estate: Overall Lakeview East Remains in Seller's Market: Neighborhood Update - 08/03/17 11:37 AM
Start your Lakeview East home search here.
 *Note: You may have noticed our daily updates have not been daily lately. Unfortunately, we are having issues with our website that have held us back from the updates. We seem to be close to a solution, so hopefully, we can move forward and our website will be fully functioning soon! These charts will continue to represent the last month of activity, but we will continue to refer to our most recent reports. 
Lakeview East
Housing Type: Condo
Overall the condos in this neighborhood continue to be in a seller's market. In the last report, we talked about how the … (0 comments)

real estate: Lincoln Park Townhomes Still Selling FAST: Neighborhood Update - 08/02/17 05:36 PM
Start your Lincoln Park home search here.
 *Note: You may have noticed our daily updates have not been daily lately. Unfortunately, we are having issues with our website that have held us back from the updates. We seem to be close to a solution, so hopefully, we can move forward and our website will be fully functioning soon! These charts will continue to represent the last month of activity, but we will continue to refer to our most recent reports. 
Lincoln Park
Housing Type: Condo
Among the lower price condos inventory levels are creeping up since our last report. they are still very much in a sellers … (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

Email Me

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.


Listings

Links

Archives

RSS 2.0 Feed for this blog