New Construction Helps University Village Supply: Neighborhood Update

By
Real Estate Agent with RE/MAX Premier Properties

Start your University Village/Little Italy home search here.

University Village/Little Italy

Housing Type: Condo

A new development at 1418 W Fillmore has just made available a few listings. It's a 3 story building with 6 units. Currently, 3 of the units are available at prices ranging from $439,9000-669,900. Two of the condos are 3b/2ba and the largest is 4b/3ba. Not much else has changed since last month. The average market time for the active properties is 63 days and for those under contract it is 119. The median sales price for condos was $282,750.

 

Price Range: $400,000-$800,000 

University Village Little Italy Chicago Real Estate Market Trends

 

University Village/Little Italy

Housing Type: Townhome

Again, there haven't been many changes among the townhomes. A few new developments should help move the market along. In fact, these charts are showing the $700-800k range as balanced and nearly all of the homes available in that range are new construction. The median sales price for condos was $507,500.

 

Price Range: $400,000-800,000

University Village Little Italy Chicago Real Estate Market Trends

University Village Little Italy Chicago Real Estate Market Trends

 

Price Range: $800,000+

University Village Little Italy Chicago Real Estate Market Trends

University Village/Little Italy

Housing Type: Single Family

While some single family homes continue to move at a rather quick pace there are two that have been on the market for over a year. While they both have beautiful pictures and look like move-in ready homes over the course of the listing time they have both dropped their price by over $100k. Listing your home at a fair price is always important. Even when most homes are taking a month to sell if yours is over priced it could take over a year! The median sales price for single family homes was $853,679.

 

Price Range: $800,000+

University Village Little Italy Chicago Real Estate Market Trends

University Village Little Italy Chicago Real Estate Market Trends

 

 

Start your University Village/Little Italy 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 doesn't have houses) 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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Rainmaker
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Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

Wishing you much success as we wind down another year of sales. May more referrals come your way too.

Nov 21, 2016 01:52 PM #1
Rainmaker
191,812
Terri Buseman
RE/MAX Premier Properties - Chicago, IL
Downtown Chicago

Thanks Winston. Have a great end of the year!

Nov 22, 2016 01:54 AM #2
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Rainmaker
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Terri Buseman

Downtown Chicago
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