Start your Prairie District Neighborhood home search here.
Prairie District
Housing Type: Condo
Average market times have climbed since last month. Inventory levels are also moving up a little bit, but there is still room for a lot more to bring this market to a nice balance. It's already August, so the summer selling season is nearing an end. Traditionally we tend to see a small spike of activity in the fall followed by low activity in the winter. This isn't always the case, however, two years ago as we were coming out of the crash we had such a busy December we could hardly take a breath to prepare for the holidays! With average market times pushing 3 months, if you are worried about seasonality, this might be the perfect time to list your home and sell before the end of the year. An article in DNAinfo this morning called for snow in November followed by a tame autumn, but history shows as soon as snow reaches Chicago many locals go straight into winter mode. If that is the case this year then listing now should have you sold before the snow. The median sales price of condos was $340,000.
Price Range: $400,000-$800,000
Prairie District
Housing Type: Townhome
We are still seeing some pretty short market times for some of the condos. However, those that are under contract have an average market time of 60 days and the ones that are on the market have an average market time of 94 days, so we could see an increase in market times as the summer selling season winds down. Inventory has been so low that this is actually a good sign. We need more inventory for a balanced market. That is when the market is easiest on buyers and seller alike. The median sales price for townhomes in the Prairie District was $583,500.
Price Range: $400,000-800,000
Price Range: $800,000+
Prairie District
Housing Type: Single Family
There have been no changes among the single family homes. The market time for the available home is 94 days so far.
Price Range: $800,000+
Start your Prairie District Neighborhood 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.
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