trends: More Townhomes Available in Wicker Park: Neighborhood Update
- 05/10/17 10:20 AM
Start your Wicker Park home search here.
Wicker Park
Housing Type: Condo
Just like we pointed out last month, these homes are selling fast! Look at the $400-500k range where 20 homes went under contract! There were only 8 available in our last report. The average market time for those under contract is 55 days, but if you look closely you will see that one of them has a market time of 436 days and one has a market time of 225 days. However, 19 of these homes have a market time of less than 46 days and 7 of them went under contract in less … (0 comments)
|
trends: Great Time to Sell in Old Town: Neighborhood Update
- 05/09/17 02:00 PM
Start your Old Town home search here.
Old Town & Old Town Triangle
Housing Type: Condo
Overall new inventory hasn't been listed as fast as it has been selling over the past month. This is keeping the condos in a seller's market. In our last report there were 5 properties listed for over $2m. All 5 of them were canceled. They are all part of the same development at 101 W North ave. This is a new construction mid-rise condo building of 10 stories and only 33 units. Currently, 2 of the 4 penthouses are showing as under contract. These homes are scheduled for delivery … (0 comments)
|
trends: Competition for University Village Houses: Neighborhood Update
- 05/08/17 02:26 PM
Start your University Village/Little Italy home search here.
University Village/Little Italy
Housing Type: Condo
More homes came to the market than sold, since last month, but with average market times of only 45 days it looks like sellers will continue to enjoy fast sales. Overall the average market time of the condos that are under contract is 81 days, but about 60% of those homes have a market time of under 35 days. The median sales price for University Village condos was $315,000
Price Range: $400,000-$800,000
University Village/Little Italy
Housing Type: Townhome
The townhome market picked up slightly with a few more homes going under contract than coming to thte market, … (0 comments)
|
trends: West Loop Market is Super Hot: Neighborhood Update
- 05/05/17 10:07 AM
Start your West Loop home search here.
*We apologize for the delay in our daily market updates. We have had some technical issues.
West Loop
Housing Type: Condo
Even though in many cases more homes came to the market than went under contract or sold since last month this market is still super hot! Overall the average market time for the condos that sold is only 27 days! The ones that are under contract have taken a little longer at 90 days, but the busy season is just starting. Typically most homes list in April, May, and June, so if you are thinking of selling now is a … (0 comments)
|
trends: Gold Coast Luxury Homes in Their Own Market: Neighborhood Update
- 05/04/17 07:09 AM
Start your Gold Coast home search here.
Gold Coast
Housing Type: Condo
With a few more homes coming to the market than selling this market is continuing the balanced trend we saw last month. Market times among the lower priced homes are shorter and we might see that continue through the spring. The higher priced homes are in a buyers market and they are taking longer to sell. As a seller this is important to watch. This neighborhood is seeing a different market than much of the city. A more aggressive pricing strategy is likely needed for a quick sale. The median sales price for condos was $370,000.
Price Range: … (2 comments)
|
trends: More Listings Hit the Streeterville Spring Market: Neighborhood Update
- 05/03/17 02:22 PM
Start your Streeterville home search here.
Streeterville
Housing Type: Condo
There wasn't exactly a surge in listings, but they did pick up a bit from last month, especially in the $400-600k range. The month's supply of inventory in the $500-600k range jumped a bit, but one of the homes that closed took 381 days to sell. That's going to push the number up a bit, but the other two took 199 days and 11 days. The amount of time these homes take to sell is varied a bit. To get a quick sale it's always best for sellers to put their best face forward and price … (0 comments)
|
trends: Single Family Home Outsells River West Townhomes: Neighborhood Update
- 05/02/17 11:27 AM
Start your River West/Fulton River District home search here.
River West/Fulton River District
Housing Type: Condo
As we've been seeing, listings are selling very fast. The inventory is being replenished just as quickly as it is selling, which is keeping the inventory levels down. Buyers will still need to be prepared to make an offer as soon as the find the home they love and sellers will want to make sure their home is in great order as soon as they list. Buyers are flocking to new listings, giving sellers a chance at a very quick closing. The median sales price for River West condos was $451,100.
Price … (0 comments)
|
trends: Seller's Market Here to Stay in River North: Neighborhood Update
- 05/01/17 11:01 AM
Start your River North home search here.
River North
Housing Type: Condo
More or less across the board, more homes came to the market than went under contract over the past month. This hasn't had much of an impact on the month's supply of inventory though. Many homes are selling very fast in under a month or two. The spring months of April, May, and June are the months in which the most listings tend to come to the market. We may see that this trend continues into the next month, but if homes continue to sell so fast the seller's market may last the … (0 comments)
|
trends: Great Time to Sell in New East Side: Neighborhood Update
- 04/28/17 08:51 AM
Start your New East Side home search here.
New East Side
Housing Type: Condo
Most of the neighborhood has remained in a pretty steady seller's market since last month. The most movement has been among the homes listed for over $1m, where a myriad of homes in Vista Tower have gone under contract. Delivery of these homes won't be until 2019-2020, but as it is soon to be the city's third-tallest tower we can't help but compare this to when the John Hancock building was being built. In its time it was the second tallest building in the world and had residential floors on stories 44-92. The residences … (0 comments)
|
trends: Competition Increasing for South Loop Sellers: Neighborhood Update
- 04/26/17 02:27 PM
Begin your South Loop home search here.
South Loop
Housing Type: Condo
Buyers and sellers are hitting the spring market hard. There have been quite a few listings that came to the market since last month, but it's hardly enough to keep up with demand. About 45% of the condos that closed sold in a month or less and the overall average market time is only 61 days! Overall it's still a seller's market, but sellers have some competition too. It is very important in this market to price your home for maximum visibility. Bidding wars continue to be a common occurrence so even if you … (0 comments)
|
trends: Many Homes Selling Fast in the Loop: Neighborhood Update
- 04/25/17 10:44 AM
Begin your Chicago Loop home search here.
Loop
Housing Type: Condo
Inventory levels are still holding steady since last month. While some properties take awhile to sell about 1/2 of the condos that closed for over $400k sold in less than 40 days. A few even sold before they were listed. The demand for condos in the Loop remains high, especially among 2 bedroom homes. We are just in the first of the busiest months of the year, so as a seller there is still time to list your home and sell it before we get deep into the summer months. The median sales price for … (0 comments)
|
trends: Condos Continue to Sell Fast in West Loop Gate: Neighborhood Update
- 04/24/17 12:16 PM
Start your West Loop Gate home search here.
West Loop Gate
Housing Type: Condo
There is a little less inventory than last month and much of it is selling very quickly. The home that closed was only on the market for 13 days. Another one that is under contract has a market time of 19 days. Not every home is selling so fast though. The average market time of the homes that are under contract is 70 days, although most of them have a market time of under 76 days. Compared with the other price ranges the $400-500k range has the most inventory, but also the most movement. … (0 comments)
|
trends: Dearborn Park in High Demand: Neighborhood Update
- 04/21/17 10:25 AM
Start your Dearborn Park & Dearborn Mews home search here.
Dearborn Park & Dearborn Mews
Housing Type: Condo
The only activity in the $400k+ price ranges was with one condo. It was originally listed in September, but was temporarily removed from the market during our last report and now it has expired. We don't know why it expired or didn't sell, but there are two things we can see in the listing sheet that would have made it harder for the sellers to reach all potential buyers. The first is a restriction, no showings after 5:00 p.m. Restrictions like this come up from time to time, but sellers … (0 comments)
|
trends: Historic Prairie District Mansion Now Available: Neighborhood Update
- 04/19/17 11:02 AM
Start your Prairie District Neighborhood home search here.
Prairie District
Housing Type: Condo
We are seeing a slight increase in sellers which, as we mentioned last month, tends to happen in the spring. The greatest increase was in the $400-500k range. However, the month's supply of inventory hardly changed in that category because so many listings went under contract very quickly. The average market time of those that closed was 47 days and of those under contract is 98 days. One of the condos that is under contract has a market time of 312 days. If you look at the average market time for the … (0 comments)
|
trends: All Homes Selling Fast in Sheffield: Neighborhood Update
- 04/18/17 05:30 PM
Start your Wrightwood Sheffield/DePaul home search here.
Wrightwood Sheffield/DePaul
Housing Type: Condo
As the spring market begins we are not yet seeing an increase in inventory, as we hoped we would last month. In fact, in some price ranges the months supply of inventory has gone down. Condos are still in high demand and because of that, they are selling fast. There is plenty of room in this market for more sellers, buyers are demanding it! The median sales price for condos was $510,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Wrightwood Sheffield/DePaul
Housing Type: Townhome
With sales times of 2 and 7 days these homes are going fast! The homes that are under … (2 comments)
|
trends: Homes Selling Quickly in Museum Park: Neighborhood Update
- 04/17/17 11:30 AM
Start your Museum Park at Central Station home search here.
Museum Park at Central Station
Housing Type: Condo
Just like last month we have seen a small increase in inventory. With most condos selling in less than a few months this is great news for buyers. Inventory is still quite low, so sellers can expect to see a lot of interest in their listing. Having a few more homes available for sale eases the stress on buyers of dealing with multiple offers and not having enough choice. The median sales price for condos in Museum Park was $515,000.
Price Range: $400,000-$800,000
Price Range: $800,000+
Museum Park at Central Station
Housing Type: Townhome
Out … (0 comments)
|
trends: Condos Selling Fast in Roscoe Village: Neighborhood Update
- 04/14/17 07:42 AM
Start your Roscoe Village home search here.
Roscoe Village
Housing Type: Condo
Last month it looked like the average market time for $400-500k condos was pretty high at 258 days. However, we noticed that this was caused by one property taking 347 days to sell. This month there were more closings to compare and the average only came to 44 days. As we can see, even though some homes might take a long time to sell, overall they are all selling very fast! Buyers need to be ready to snatch up their dream home as soon as it is listed! The median sales price for condos … (0 comments)
|
trends: Demand for Townhomes Sky High in Lakeview East: Neighborhood Update
- 04/10/17 10:41 AM
Start your Lakeview East home search here.
*Aaand we're back! After some tougher than usual to solve technical difficulties our blog is up and running and we can resume our daily updates. We apologize for the break and thank you for your patience.
Lakeview East
Housing Type: Condo
The seller's market continues, like last month, as homes are listed at the same pace in which they go under contract. In general homes are selling very quickly in 2-3 months, but there are still a couple of pockets in which a price range is closer to a balanced market. Sellers will need to be aware of just how much … (0 comments)
|
trends: Even Luxury Houses Can Sell Fast in Lincoln Park: Neighborhood Update
- 04/07/17 02:07 PM
Start your Lincoln Park home search here.
Lincoln Park
Housing Type: Condo
Just like last month the number of homes that came to the market is very close to the number of homes that went under contract in each price range over the past month. This is keeping inventory levels low and the seller's market hot. Not until you get into the over $1m range do we see a balanced market. This is a trend we are seeing all over downtown, where the neighborhood is largely in a seller's market, but the luxury homes are either in a balanced market or buyer's market. The median sales … (0 comments)
|
trends: Demand is High in Bucktown: Neighborhood Update
- 04/05/17 09:01 PM
Start your Bucktown home search here.
Bucktown
Housing Type: Condo
More homes came to the market than went under contract or sold over the past month, which means inventory is increasing. However, with many market times in the single digits that increase in inventory is not nearly enough to keep up with demand. The seller's market continues strong and with the spring market just starting this is great news if you are thinking of making a move. The median sales price for condos in Bucktown was $479,500.
Price Range: $400,000-$800,000
Price Range: $800,000+
Bucktown
Housing Type: Townhome
Townhomes continue to sell quickly. The home that just went under contract has a market … (0 comments)
|
Start your Wicker Park home search here.
;)
;)
;)
