single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

single family home: 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)

 
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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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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