real estate: Wicker Park Neighborhood Update: Year in Review 2016-2017 - 01/26/17 12:29 PM
Start your Wicker Park home search here.
 
Wicker Park
Housing Type: Condo
Last month we were concerned about the fact that 8 listings were canceled the month before. This time it has only been 3 and more homes have come to the market. Over the course of the past year homes have been selling very fast, just around a month on average. As a result, the month's supply of inventory has remained quite low. Homes are continuing to sell very fast, but if more keep coming to the market we could see this neighborhood start to balance out. Since the month's supply of inventory is only … (1 comments)

real estate: 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)

real estate: University Village Neighborhood Update: Year in Review 2016-2017 - 01/24/17 11:21 AM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
Two homes went under contract last month, but that was the only activity among these condos. Over the past year, these homes have been deep in a seller's market. Currently, the month's supply of inventory is only a hair longer than it has been all year. We don't foresee this market drastically changing in the near future. This is good for sellers, they won't have to worry about having a lot of competition. Buyers will need to be prepared to write an offer as soon as they walk into a property, … (0 comments)

real estate: West Loop Neighborhood Update: Year in Review 2016-2017 - 01/23/17 01:50 PM
Start your West Loop home search here.
 
West Loop
Housing Type: Condo
Just a few more homes have come to the market than sold last month, which is great for this neighborhood. All year the inventory has been so low that most homes sell in under a month! With its booming commercial districts, such as the world-famous restaurants that line Randolph Street and the easy access to highways and the Loop it's no wonder the West Loop has continued to be such a popular neighborhood. While the inventory levels remain extremely low sellers can enjoy a push up in their home values. Buyers in this neighborhood … (0 comments)

real estate: Gold Coast Neighborhood Update: Year in Review 2016-2017 - 01/20/17 08:56 AM
Start your Gold Coast home search here.
 
Gold Coast
Housing Type: Condo
The Gold Coast condo market might be one of the most balanced markets among the downtown neighborhoods. Last month we talked about the slight slow down and suggested it might be due to the holidays. As predicted, in the new year the market picked back up and homes are coming to the market as fast, if not faster than they are selling. Over the course of the past year we can see just how balanced this market has been. A balanced market has 6-8 months of inventory and most of these price ranges have … (0 comments)

real estate: Streeterville Neighborhood Update: Year in Review 2016-2017 - 01/19/17 09:19 AM
Start your Streeterville home search here. 
 
Streeterville
Housing Type: Condo
Last month we talked about how quickly some condos are selling in this neighborhood. This is still happening, there were two recent closings in the $700-800k range with an average market time of only 5 days! However, the nice thing about the Streeterville market is that it is closer to balanced than many other markets, which still very much favor the sellers. Overall this neighborhood is still in a seller's market too, but the inventory levels are higher, giving buyers more choices and sellers a little competition. A balanced market is ideal, which happens when there … (0 comments)

real estate: River West Neighborhood Update: Year in Review 2016-2017 - 01/18/17 01:05 PM
Start your River West/Fulton River District home search here.
 
River West/Fulton River District
Housing Type: Condo
Last month we talked about how quickly condos have been selling in this neighborhood. Since it is a new year we have created charts to show the trends over the past 12 months and we can see that over the past year market times for condos up to $800k have been at about 30 days and even in the higher price ranges the average market times haven't been much more than 90 days. When homes sell so quickly it is very difficult for inventory of homes to replenish and the seller's market … (0 comments)

real estate: River North Neighborhood Update: Year in Review 2016-2017 - 01/17/17 12:44 PM
Start your River North home search here.
 
River North
Housing Type: Condo
Last month we talked about how this neighborhood has had low inventory for a long time. Since it is a new year we are comparing our regular charts with ones that illustrate activity over the past year. We can see that over the course of the year inventory levels have, in some cases, been even lower than they are now. When levels are so low, around only 1 or 2 months, buyers can have a very hard time moving into a neighborhood. There are very few homes to choose from and the most … (0 comments)

real estate: New East Side Neighborhood Update: Year in Review 2016-2017 - 01/13/17 08:45 AM
Start your New East Side home search here.
 
New East Side
Housing Type: Condo
There wasn't a lot of activity over the past month. A few listings expired and not too many more were brought to the market. Coming out of the holiday season this is pretty typical. Since it is a new year we created graphs to show the market trends over the past 12 months. We can see that the condos have continued to be in a hot seller's market with less than 3 months of inventory. The biggest addition to the neighborhood is Vista Tower, which just broke ground in September. You will notice … (0 comments)

real estate: South Loop Neighborhood Update: Year in Review 2016-2017 - 01/12/17 08:31 AM
Begin your South Loop home search here. 
 
South Loop
Housing Type: Condo
Last month we talked about how quickly condos were moving in this neighborhood, except in the higher price ranges. Being a new year we decided to compare our regular charts with ones that look at activity over the last 12 months. We can see that even in the course of the year the higher priced condos have been taking a few months to sell, on average. The $1-2m homes have the highest month's supply of inventory. They are actually in a balanced market at 6.2 months. This means there is close to an … (2 comments)

real estate: Loop Neighborhood Update: Year in Review 2016-2017 - 01/11/17 03:17 PM
Begin your Chicago Loop home search here.
 
Loop
Housing Type: Condo
As we noted last month homes continue to sell faster than they are being listed. We noted that some homes still take a long time to sell, but in general these condos are moving fast. Since it is a new year we added some charts for this month to show how quickly condos have been selling over the past year. We can see that while the month's supply of inventory is higher than most neighborhoods we have reported on this month, it is still quite low and lower than a balanced market. This means that … (0 comments)

real estate: West Loop Gate Neighborhood Update: Year in Review 2016-2017 - 01/10/17 09:25 AM
Start your West Loop Gate home search here.
 
West Loop Gate
Housing Type: Condo
Since last month 3 homes have gone under contract and 1 has come to the market. This neighborhood has been moving fast all year. You may remember at the beginning of 2016 Zillow named West Loop Gate the hottest neighborhood of the year and these numbers do not disappoint. Over the year the average market time for all of these price points has been around 2 months and there is no sign of that slowing down. In fact the Near West Side, which is the greater neighborhood that West Loop Gate belongs to, has … (2 comments)

real estate: Dearborn Park Neighborhood Update: Year in Review 2016-2017 - 01/09/17 01:05 PM
Start your Dearborn Park & Dearborn Mews home search here.
 
Dearborn Park & Dearborn Mews
Housing Type: Condo
Condos in Dearborn Park haven't seen any activity over the past month. We can see that over the course of the year homes have been selling very quickly. The average market times have remained at 4 months or less and some homes even sold in a matter of days. There have been so many more buyers than sellers that the month's supply of inventory hasn't been much over 3 months in any price range. With such little inventory it will still be awhile before condos in this neighborhood … (0 comments)

real estate: Wrightwood Sheffield Neighborhood Update: Year in Review 2016-2017 - 01/05/17 08:29 AM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
More homes went under contract than were listed since last month, pushing the current month's supply of inventory down. Being a new year we also created charts to show how these homes have trended over the past 12 months. We can see that the month's supply of inventory has remained steady, it is about the same for this past month as it has been all year. This means these homes remain deep in a seller's market. While our average market time has been higher in the past two months overall it has been averaging … (0 comments)

real estate: Museum Park Neighborhood Update: Year in Review 2016-2017 - 01/04/17 11:21 AM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
Last month we talked about homes that take a long time to sell. Looking at the market times for the sales this month they are also fairly long. However, as it is a new year, we decided to include charts that look at the past 12 months of activity. In that we can see a lot of low market times, most ranging around 2 months. Also, for the most part, the month's supply of inventory has remained extremely low, at about 2 months or less in every price range … (0 comments)

real estate: Roscoe Village Neighborhood Update: Year in Review 2016-2017 - 01/03/17 02:58 PM
Start your Roscoe Village home search here.
 
Roscoe Village
Housing Type: Condo
Last month we talked about the demand for condos in this neighborhood and how it is a good time to sell. Being January, we decided to do a side-by-side comparison to show activity from the past month as well as across the past year. As we can see, the month's supply of inventory has remained extremely low and most homes that go under contract close. Market times have even remained close to a month for most properties, which keeps the condos in this neighborhood in a strong seller's market. The median sales price for … (2 comments)

real estate: Lakeview East Homes Can Sell Fast This Winter: Neighborhood Update - 12/29/16 10:00 AM
Start your Lakeview East home search here.
 
Lakeview East
Housing Type: Condo
Since last month there were a few cancelled listings in the $400-600k range, but that was the most of the activity. During the holidays it's not uncommon for sellers to cancel their listing and relist come spring, when buyers are more likely to come looking for real estate. After all, it is much more fun to look at open houses when the weather is warm. However, serious buyers will look for real estate during all seasons in the Chicago market. Given that this price range is in a seller's-to-balanced market the sellers might see … (0 comments)

real estate: Lots of Opportunity to Sell in Lincoln Park: Neighborhood Update - 12/28/16 09:34 AM
Start your Lincoln Park home search here.
 
Lincoln Park
Housing Type: Condo
Since last month there has been a little spike in new listings in the higher price ranges. This is not a common sight during the holiday season. In past years the market has nearly come to a dead stop. However, this has not been a typical year and consumers know it. Market times have been low and inventory has been low, giving sellers the upper hand. This trend is continuing, but the higher priced homes are facing a more balanced market, or in some cases a buyer's market. Sellers of these homes should be … (2 comments)

real estate: Bucktown Homes Selling Fast: Neighborhood Update - 12/27/16 01:30 PM
Start your Bucktown home search here.
Bucktown
Housing Type: Condo
There has been a noticeable drop in listings since last month. A few homes have cancelled and a new building with 5 listings has also cancelled. Having a whole building cancel all of its listings makes the drop look more dramatic. However, homes are still selling fast. The average market time for closed homes was 13 days. For those under contract it is at 85 days, so far, and the average for homes that are available is currently 87 days. The median sales price for condos in Bucktown was $540,000. 
Price Range: $400,000-$800,000

Price Range: $800,000+

 
Bucktown
Housing Type: Townhome
One listing … (0 comments)

real estate: Cancelled Listings Affecting Wicker Park Market: Neighborhood Update - 12/22/16 08:11 AM
Start your Wicker Park home search here.
 
Wicker Park
Housing Type: Condo
Since last month quite a few condos have closed with low market times, averaging under a month. Only one listing has come to the market, but 8 have been cancelled. The average market time for the ones that were cancelled was 133 days, with the lowest at 84 days and the highest at 228. With so many homes selling at a record pace it is understandable that the sellers of the cancelled listings might be frustrated and might even want to wait until spring. However, there are other tactics they could consider to find a … (0 comments)

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

Terri Buseman

Downtown Chicago

Chicago, IL

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RE/MAX Premier Properties

Address: 1205 N Dearborn, Chicago, IL, 60610

Mobile: (312) 208-5166

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