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)
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)
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.
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)
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)
single family home: 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)
single family home: 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)
single family home: 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)
single family home: 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)
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)
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.
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)
single family home: 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)
single family home: 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)
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)
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)
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)
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)
single family home: 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)
single family home: 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)
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