single family: Longer Market Times in Wrightwood Sheffield: Neighborhood Update
- 11/03/16 04:19 AM
Start your Wrightwood Sheffield/DePaul home search here. Wrightwood Sheffield/DePaul Housing Type: Condo Even though inventory levels haven't changed much since last month and most of these condos are still in a buyer's market, market times have been creeping up. They are still low at around two months, but it has been enough for some seller's to lower their asking price. If you are looking to buy, research the listing history of a home before you make an offer, you might have more negotiating room than the seller will admit. The median sales price for condos in this neighborhood was $530,000 Price Range: $400,000-$800,000
Price Range: $800,000+
Wrightwood Sheffield/DePaul Housing Type: Townhome There … (0 comments)
Roscoe Village Housing Type: Condo This market has not slowed down from last month. Again, there is a slight increase in inventory, but homes are still selling so fast that the demand for more homes to come to the market remains. Very often seasonality tends to slow the real estate market, but that is not looking to be the case among condos in Roscoe Village. If you are thinking of selling now is still a good time. In fact, inventory is so low that it is likely to remain a good time to sell in this neighborhood through the … (0 comments)
Lakeview East Housing Type: Condo Rumor has it that you could hear the city singing "Go Cubs Go" for a mile outside of Wrigley Field last night after they won their first World Series game at Wrigley Field in history! So much history is being made in this World Series that many people who live in and near Wrigleyville have been a little preoccupied. Quite possibly, as a result, there hasn't been a lot of real estate activity since our last report (most of Lakeview East is within 1mi of Wrigley). Most of the condo sales were in the $400-500k range … (2 comments)
Lincoln Park Housing Type: Condo The condo market in Lincoln Park is still moving fast, like last month. Only a few more homes are coming to the market than are selling, so inventory levels are remaining steady. For most homes, market times are still hovering around a month. The toughest segment of these, for home sellers, are the homes listed for over $1m. Nearly half of these are new construction, which is why this market has a spike in inventory. The median sales price for condos was $393,500. Price Range: $400,000-$800,000
Price Range: $800,000+
Lincoln Park Housing Type: Townhome There continues to be a … (0 comments)
single family: Still Opportunities to Sell Quickly in Bucktown: Neighborhood Update
- 10/27/16 02:44 AM
Start your Bucktown home search here. Bucktown Housing Type: Condo The most notable change since last month is in the $400-500k range where there were 4 condos under contract and only one available. Now 5 have sold, 1 is under contract, and there are 5 available. That means 6 condos have come to the market in that price range. It's some pretty quick movement, but currently, the average market time for the active homes is 41 days, so it is hard to tell if these homes will continue to sell so quickly. The median sales price for condos in Bucktown was $478,052.
Wicker Park Housing Type: Condo Last month we mentioned that there was a slight increase in condos for sale and this month we can see that trend continues. Homes are still selling very fast, so the increase in homes for sale is going to be a big help. Even as inventory increases if homes keep selling as fast as they have been this seller's market could continue for quite awhile. The median sales price for condos in Wicker Park was $440,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Wicker Park Housing Type: Townhome There haven't been many changes among the townhomes, except the 9 that … (0 comments)
Old Town & Old Town Triangle Housing Type: Condo Don't let the average days on market fool you, there has been some very quick movement in the $600-800k range since last month. There were 3 under contract in the $700-800k range and 2 have sold which means 2 have gone under contract and 1 has come to the market. There were 10 available in the $600-700k range and of those 2 have sold and 2 went under contract, meaning 3 have come to the market. An average market time of only 21 days for the 4 condos that … (0 comments)
single family: University Village Market Slowing Down: Neighborhood Update
- 10/24/16 05:31 AM
Start your University Village/Little Italy home search here. University Village/Little Italy Housing Type: Condo There haven't been many changes from last month. There was one quick sale in the $400-500k range, but the one that is under contract has a market time of 122 days. Sellers can still expect their listing to take a few months. A seller who can't wait that long can take measures towards a fast sale by pricing the home at or just below value and taking care to stage and market the home carefully. The median sales price for condos was $330,000.
Price Range: $400,000-$800,000
University Village/Little Italy Housing Type: Townhome We saw some quick … (0 comments)
West Loop Housing Type: Condo The West Loop continues to be a hot market for condos. Most notably in the $400-600k range where 24 homes have come to the market since last month, but they are selling so quickly that the number of homes available has remained nearly the same! All of these price ranges have less than 3 months of inventory showing that this is still very much a seller's market. There is plenty of room for more condos to come to the market as demand is high. Prices will continue to rise and any seller looking … (0 comments)
Gold Coast Housing Type: Condo As we saw last month homes are coming to the market faster than they are selling. Most of the neighborhood is seeing a pretty balanced market among the condos, but the market times are increasing. The market is turning in favor of buyers in the upper price ranges and the lower price ranges could be headed that way soon. In a buyer's market prices tend to go down, so sellers who want to sell quickly will need to take care with their pricing strategy. When consumers feel they are in a buyer's market they … (6 comments)
River West/Fulton River District Housing Type: Condo A few properties have come to the market, but not many have sold. Last month the market time for sold homes was pretty low, less than a month for most homes. They are still selling quickly in the $400-500k range, but with added inventory and not much else selling this market might be slowing down a touch. The average market time for all the active condos, above $400k, is 78 days and for those under contract it is 88 days. Overall condos are still in a buyer's market, but we could see … (2 comments)
River North Housing Type: Condo In the lower price ranges a lot of homes have gone under contract and about as many have come to the market. The average market time for those that went under contract is 70 days, so we may see the overall average decrease a little bit as these listings close. Homes listed for over $1m are still seeing a mostly balanced market, due to a lot of new construction. If you are selling your home in this range be aware of your competition. Resale homes are more desireable to some buyers than new construction, … (0 comments)
Dearborn Park & Dearborn Mews Housing Type: Condo As we mentioned last month there had only been 2 closings in the past 4 months for the $400-500k range. The sale last month took 62 days. This is why the month's of inventory is so high. With such low inventory, there isn't much data to suggest how long a home will take to sell. The sale this month only took 20 days and the home that is available has been on the market for 16. If you have a condo to sell in Dearborn Park this is … (0 comments)
Prairie District Housing Type: Condo There has been very little activity among the condos since last month. Overall, 5 homes have come to the market. The selling rates are staying pretty steady, so we aren't seeing much of a difference in the month's supply of inventory, the seller's market continues. Of all the condos in these charts the average market time for sold properties was 62 days, for those under contract it is at 88 days, and for those that are active it is 55 days so far. If you are ready to sell be prepared to … (0 comments)
Wrightwood Sheffield/DePaul Housing Type: Condo A few homes have come to the market in nearly every price range since last month. The month's supply of inventory is pushing balanced levels, but homes are continuing to sell very fast, in under a month in most cases. Often times in real estate we will see the markets slow as we head into the fall and winter months, but so far this is not the case for the Wrightwood/Sheffield neighborhood. The median sales price for condos in this neighborhood was $635,500 Price Range: $400,000-$800,000
Price Range: $800,000+
Wrightwood Sheffield/DePaul Housing Type: Townhome No new listings have come to the … (2 comments)
Roscoe Village Housing Type: Condo Inventory continues to increase among the condos. Homes are still selling so fast, like last month, that the month's supply of inventory has not changed much. This is still a great time to sell in this market. When inventory is low and demand is high prices go up. If you have been waiting for your home value to reach a certain point this would be a good time to get a professional evaluation of your home to see if it's at your target value. The median sales price for condos was $432,500.
Lakeview East Housing Type: Condo Our post was cut off last month after we started to talk about opportunities for sellers in Lakeview East. In many price ranges there is still a lot of room for more sellers, even though we are seeing an increase in listings. Homes are still selling so fast in the $400-700 ranges that most of these sellers are enjoying a seller's market. Their homes are still selling in about a month. The condos listed for $800k+ are seeing much longer market times. There haven't been any sales this month, so it is harder to … (0 comments)
Lincoln Park Housing Type: Condo We knew last month that it was looking to be a busy fall and so far that trend continues. In most price ranges for the condos more homes have come to the market than have sold, but across the board they are still selling super fast, in just about a month, more or less. Because homes are still selling so fast the increase in inventory hasn't had much of an effect on the month's supply of inventory. It is still a seller's market up to the $1m+ range. The median sales price for condos … (0 comments)
Bucktown Housing Type: Condo There has been a big spike in available listings in the $500-600k range. Most of them came to the market shortly after last month's report, so the average market time for active listings is 43 days so far. Only two of them are in a new construction building. Market times have continued to be very low, but with this additional inventory, we could see them start to increase a little, at least in the $500-600k range. The median sales price for condos in Bucktown was $475,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Bucktown Housing Type: Townhome There hasn't been a lot … (2 comments)
Wicker Park Housing Type: Condo Inventory among Wicker Park condos remains low, but, like last month, there was another uptick in homes for sale. Interestingly the biggest increases in inventory were in the $400-600k range and in the homes listed above $800k. Still, even with more inventory homes are selling very fast. The $400-500k range has an average listing time of 85 days, but among those 7 sales, only 2 of them were over 100 days. Three of them actually took less than 2 weeks! The median sales price for condos in Wicker Park was $440,000.
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Start your Wrightwood Sheffield/DePaul home search here.
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