Start your Lakeview East home search here.
Lakeview East
Housing Type: Condo
Inventory is still moving up a little bit from last month among the condos in Lakeview East. The months supply of inventory for some price ranges are even showing a buyer's market and some others are pushing a balanced market. See the chart at the bottom of this post to learn about how months supply of inventory affects the market. The good news is that, on average, the homes are still selling rather quickly. Keeping aware of the growing inventory and the fact that we are approaching the slower season, if you are planning to sell it is vital that you make your home show ready and price it to sell. There are still plenty of buyers out there and even with competition you could see a quick sale in this market. The median sales price for condos was $257,500.
Price Range: $400,000-$800,000
Price Range: $800,000+
Lakeview East
Housing Type: Townhome
We were pretty excited to see more listings last month. The month's supply of inventory among the townhomes has been hovering around one month for most of this year and we can see why. There were only 2 homes under contract last month and now with 1 closed and 6 under contract we can see that 5 more have been snatched up by buyers since we reported on this market. There were 5 homes available last month and that was a much needed increase from the month before, but not enough. There are now 4 homes available, which is the same number that have come to the market in the past month. If you are looking to sell your townhome you still have plenty of time to do it before the winter months! The median sales price was $465,000.
Price Range: $400,000-800,000
Price Range: $800,000+
Lakeview East
Housing Type: Single Family
The only change we have seen in this market are 2 new listings. The median list price for all of these houses is $1,850,000 with $4,795,000 at the high end and $980,000 at the low end. The average market time for the active homes is 81 days and the one that is under contract has been on the market for 1341 days! It's a graystone from 1889 with a lot of decor seemingly from the mid 1980s-90s. It's been listed since 2012 with 4 different agents. It was originally listed for $1.39m and is now down to $989,979 after 45 price changes and only going under contract one other time in 2014. As a seller you can avoid such a storied listing by carefully pricing your home for the market. If you price it too high you will lose the interest of potential buyers and it will take much longer to sell. See below for a guide on how pricing affects visibility.
Price Range: $800,000+
Start your Lakeview East home search here.
*In this blog series we focus on one of twenty neighborhoods in Chicago, each day, and provide charts to give you a brief update on the activity that neighborhood has seen over the past month in a variety of price ranges for Single Family Homes, Townhouses, and Condos, as available.
When looking at these charts please keep in mind that not every housing type is available in every neighborhood (the Loop only has condos) and some homes compete within even smaller subsections than these, meaning we can dig even further in this data. Please let me know if you would like a personal assessment of your target market.
For information about real estate in Chicago or resources in your area please contact us and sign up for our free market report!
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