trends: Townhomes Selling Out in Wicker Park: Neighborhood Update
- 07/14/17 01:02 PM
Start your Wicker Park home search here.
Wicker Park
Housing Type: Condo
The sellers market is continuing strong in Wicker Park, just as we explained in our last report. With an average market time of only 8 days among the 16 homes that sold in the $400-500k range it is clear that the buyer demand is extremely high in this neighborhood. Even so, there are currently 12 properties available in that price range. So, while buyers are snatching up homes as soon as they are listed sellers still have a little competition to contend with. It is extremely important for sellers to take care when listing … (0 comments)
|
trends: Old Town Market Differs from Nearby Gold Coast: Neighborhood Update
- 07/12/17 02:57 PM
Start your Old Town home search here.
Old Town & Old Town Triangle
Housing Type: Condo
Condos are continuing to sell fast in Old Town which is keeping the seller's market, we've been watching, going strong. Interestingly, this is in contrast to the Gold Coast, the small neighborhood just south of Old Town, which as we saw in our report yesterday, is in a balanced market and in some price ranges even in a buyer's market. This is a great example of how local real estate is. And how even among the many, many neighborhoods in Chicago you can find big differences in how the market … (2 comments)
|
trends: Seller's Market Steady in University Village: Neighborhood Update
- 07/08/17 10:37 AM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
Inventory levels are holding steady with homes coming to the market at about the rate that they go under contract. However, market times are increasing. The average market time for the homes that are under contract is 80 days, like in our last report, but now most of these homes have a market time of over 90 days. We will see what happens when they close. The median sales price for University Village condos was $29,000
Price Range: $400,000-$800,000
University Village/Little Italy
Housing Type: Townhome
There hasn't been a lot of movement in this market. There … (0 comments)
|
trends: Condo Seller's Market May Be Slowing in West Loop: Neighborhood Update
- 07/07/17 05:37 PM
Start your West Loop home search here.
West Loop
Housing Type: Condo
The West Loop is remaining in a seller's market. As we mentioned in the last report most homes are listed in April, May, and June. We are still seeing close to as many new listings as sales, but it does look like the market is slowing down. Across the city we are seeing this change. If you are a seller don't be concerned if your neighbor's home sold faster than yours is taking. When there is more inventory in the market it can take a little longer to find a buyer. The median sales … (3 comments)
|
trends: Buyer's Market in the Gold Coast: Neighborhood Update
- 07/06/17 04:13 PM
Start your Gold Coast home search here.
Gold Coast
Housing Type: Condo
More homes came to the market than went under contract since our last report. Most of the condos in the Gold Coast are now in a buyer's market. There is a little more inventory than demand. This doesn't mean that homes are lingering on the market. Of the 34 condos that sold 14 did so in less than a month. The median sales price for Gold Coast condos was $399,000.
Price Range: $400,000-800,000
Price Range: $800,000+
Gold Coast
Housing Type: Townhome
No new townhomes have come to the market. The average market time for them is 320 days, the same … (0 comments)
|
trends: Is Streeterville Approaching a Buyer's Market? Neighborhood Update
- 07/05/17 02:58 PM
Start your Streeterville home search here.
Streeterville
Housing Type: Condo
In most price ranges more condos came to the market than went under contract since our last report. This is pushing the inventory up slightly in most categories and balancing it out. A balanced market is ideal for both sellers and buyers, but they usually don't last long. If inventory continues to increase much of Streeterville could be looking at a buyer's market come winter. The median sales price for condos in Streeterville was $409,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Streeterville
Housing Type: Townhome
There have been no changes among the townhomes.
Price Range: $800,000+
Start your Streeterville home search here.
*In this blog series we focus … (0 comments)
|
trends: Pricing is Extremely Important: River West Neighborhood Update
- 06/30/17 06:45 PM
Start your River West/Fulton River District home search here.
River West/Fulton River District
Housing Type: Condo
The market is holding steady compared to our last report. Inventory levels are still quite low, save for the $1-2m market, which is balanced. Even in this fast market we can still come across homes that will take a long time to sell. The home that closed in the $700-800k range took nearly a year to sell. It was a gut rehab and looks stunning in the pictures. Through it's listing time it had the same agent and same great description. The major difference between when it was first listed and … (0 comments)
|
trends: Some River North Condos in a Balanced Market: Neighborhood Update
- 06/17/17 10:43 AM
Start your River North home search here.
River North
Housing Type: Condo
Condos are still selling fast, as they were last month. They are being listed at close to the same rate as they are selling, but in the higher price ranges there has been an increase in listings which has pushed the month's supply of inventory up. Most of the neighborhood continues to be in a seller's market. However, the higher priced homes are pushing into a balanced market. The median sales price of River North condos was $425,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
River North
Housing Type: Townhome
There hasn't been a lot of activity among the townhomes. Most … (1 comments)
|
trends: The Market Could Be Changing in the New East Side: Neighborhood Update
- 06/15/17 02:47 PM
Start your New East Side home search here.
New East Side
Housing Type: Condo
We are seeing either a lack of movement or an increase in inventory, since our last report, among the $500k-2m price ranges. This is pushing the month's supply of inventory up for those homes. In most cases this neighborhood is still in a seller's market, but these changes have it facing a balanced market. Seller's might be noticing that there is more competition. It's not enough to significantly hinder sales time, but seller's will want to take care to market their listing competitively to help promote a faster sale. The median sales price for … (4 comments)
|
trends: Price Significantly Cut on Sold South Loop House: Neighborhood Update
- 06/01/17 01:55 PM
Begin your South Loop home search here.
South Loop
Housing Type: Condo
Just like we saw yesterday in the Loop inventory is increasing slightly over last month and pushing the condos that are priced at $600k and higher into a balanced market. Both sellers and buyers tend to enjoy a balanced market. There is the right amount of inventory for demand. A seller who has been keeping a close eye on the market might feel it slowing down, but there is no need to panic. Homes that are priced and marketed well still sell quickly. The best strategy is to price your home at or just … (1 comments)
|
trends: Inventory Increasing Among Loop Condos: Neighborhood Update
- 06/01/17 11:32 AM
Begin your Chicago Loop home search here.
Loop
Housing Type: Condo
While many condos are still selling as quickly as they were in our last report we are seeing a small increase in listings coming to the market. This is pushing most of the price ranges over $600k into a balanced market. With more competition among sellers it is increasingly important to price your property for the market and make it visible to as many buyers as possible. See the chart at the bottom of this post to learn about how pricing affects visibility. The median sales price for condos was $347,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Loop
Housing Type: Townhome
Demand … (1 comments)
|
trends: Buyer Competition Continues in West Loop Gate: Neighborhood Update
- 05/28/17 04:49 PM
Start your West Loop Gate home search here.
West Loop Gate
Housing Type: Condo
The number of homes for sale is just about the same as last month, but what that doesn't show is how many are coming to the market and selling in just days. Of the homes that closed 70% sold in a month or less and 40% of those that are under contract have a market time of a month or less. When these homes close we will really see how long it took to find a buyer for them. The past two months have been very rainy, which can slow traffic a bit, … (0 comments)
|
trends: Demand Extremely High for Dearborn Park Homes: Neighborhood Update
- 05/28/17 04:11 PM
Start your Dearborn Park & Dearborn Mews home search here.
Dearborn Park & Dearborn Mews
Housing Type: Condo
From 0 listings last month to 1 sold, 4 under contract, and 1 condo listed it's clear that the high demand for Dearborn Park continues. Only one home has a listing time of over a month. It is the home that had expired in our last report. The home is now under contract. It was relisted on May 6. Two changes were made to the listing; the price was raised to $410,000 and the showing restriction was lifted by an hour to no showings after 6:00 p.m. Of course, … (0 comments)
|
trends: Price for Visibility in the Prairie District: Neighborhood Update
- 05/22/17 09:28 AM
Start your Prairie District Neighborhood home search here.
Prairie District
Housing Type: Condo
The seller's market continues as inventory remains close to the same as last month. In general homes are selling very quickly. Even though in a seller's market prices go up it is still important to price your home for visibility. When a handful of buyers make an offer on a home it has a better chance of selling for over the asking price. See the chart at the bottom for information on how to price for visibility. The median sales price for Prairie District condos was $365,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Prairie District
Housing … (2 comments)
|
trends: Many Homes Selling in Under a Month in Sheffield: Neighborhood Update
- 05/21/17 02:54 PM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
As was the case last month these homes are selling fast! Nearly half of the 17 homes that closed were on the market for less than a month. Of the homes that are under contract a little more than half went under contract in less than a month! The seller's market is continuing strong. If you are thinking about selling now is a great time to list. The median sales price for condos was $575,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Wrightwood Sheffield/DePaul
Housing Type: Townhome
Just like the condos the townhomes are selling faster than one can keep up … (0 comments)
|
trends: Inventory Remains Very Low in Museum Park: Neighborhood Updatde
- 05/19/17 02:05 PM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
There weren't any significant changes since last month. The inventory levels are staying steady and they are staying low. There are a lot of buyers looking for these homes, so sellers who market their home carefully and price it attractively are enjoying short listing times. The median sales price for condos in Museum Park was $495,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Museum Park at Central Station
Housing Type: Townhome
Townhomes continue to sell very fast. Overall the average market time of the ones that are under contract is only 47 days. One of … (0 comments)
|
trends: Pricing Right Sells Roscoe Village Townhome: Neighborhood Update
- 05/18/17 03:37 PM
Start your Roscoe Village home search here.
Roscoe Village
Housing Type: Condo
Condos are still selling as fast as last month. One of the ones that closed sold in only one day and another only took 4 days. One that is under contract also has a market time of only 4 days. There are still a few that took 2 months or more to sell. Buyers have a lot of information when they start their search. They know what homes are worth and they often like turn-key. If your home is priced near market value it will have a better chance at selling quickly. The median sales … (1 comments)
|
trends: High End Condos in Buyer's Market: Lakeview East Neighborhood Update
- 05/17/17 05:44 PM
Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
A few more homes came to the market than went under contract or sold last month. It wasn't enough to make much of a difference among the lower priced condos, however, the higher priced condos are seeing longer market times. The month's supply of inventory in these price ranges is between 7-10 months. This means these homes are in a buyer's market. There are more sellers than buyers. Sellers will have to market their homes aggressively to attract a buyer quickly. Buyers have a good variety of homes to choose from. See the chart … (3 comments)
|
trends: Buyers be Ready to Make an Offer in Lincoln Park: Neighborhood Update
- 05/14/17 11:40 AM
Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
There has been a slight uptick in inventory since last month, in the lower priced market. It's a welcome sight as inventory levels are still very low and homes continue to sell very quickly. The upper price ranges are in a balanced market. Sellers will need to take care when listing those homes as they have a little more competition to work with. The median sales price for condos in Lincoln Park was $426,250.
Price Range: $400,000-$800,000
Price Range: $800,000+
Lincoln Park
Housing Type: Townhome
Townhomes continue to sell about as quickly as they are listed. Buyers will need … (2 comments)
|
trends: Strong Seller's Market Continues in Bucktown: Neighborhood Update
- 05/13/17 01:32 PM
Start your Bucktown home search here.
Bucktown
Housing Type: Condo
Just like last month condos continue to sell very fast in Bucktown. The average market time for the homes that sold in the $400-500k range was 11 days and for those that are under contract 60% have a market time of under a month and in the $500-600k range all but one of the condos that are under contract have a market time of under 2 months. If you are thinking of selling your Bucktown condo there are buyers ready to close! Be careful to price your home fairly and you should have a lot of interest. The median sales … (0 comments)
|
Start your Wicker Park home search here.
;)
;)
;)
