Condos & Houses in Different Market:Roscoe Village Neighborhood Update

By
Real Estate Agent with RE/MAX Premier Properties

Start your Roscoe Village home search here.

 

Roscoe Village

Housing Type: Condo

As we said last month the low inventory among the condos in this neighborhood is continuing to make it a good time to sell through the end of this year. The low market times are a good sign too. The homes that are under contract do have longer market times, with an average of 80 days, but there are fewer active homes which helps drive demand. The median sales price for condos was $342,250.

 

Price Range: $400,000-$800,000

Roscoe Village Chicago Real Estate Market Trends

Roscoe Village Chicago Real Estate Market Trends

 

Roscoe Village

Housing Type: Townhome

The one home that is available was listed today. It's a 4b 3.1ba new construction home. Last month was the last sale of a townhome in this neighborhood and that one was 3b 3.1ba. It was an older home and slightly less expensive, but sold in only 9 days. Buyers are out and looking in this neighborhood and not everyone can wait for new construction. If you are thinking of selling there is no better time to list than when there are buyers and no other sellers. 

 

Price Range: $800,000+

Roscoe Village Chicago Real Estate Market Trends

 

 

Roscoe Village

Housing Type: Single Family

Four of the $1m+ listings were canceled. All of them had been on the market for over 4 months, so it is possible that the owners decided to wait until spring to relist. While in many markets, where inventory is still very low, this is probably not the best strategy, these homes are competing against mostly new construction and are in a buyer's market with 10 months supply of inventory. These houses are not small either, the smallest of all of these listings is 3b +1bsmt 3.1ba. If the homeowners don't have an urgent need to move it is likely that they can wait until the market is more favorable or their sense of urgency rises. The median sales price for single family homes was $827,500.

 

Price Range: $400,000-800,000

Roscoe Village Chicago Real Estate Market Trends

Roscoe Village Chicago Real Estate Market Trends

Price Range: $800,000+

Roscoe Village Chicago Real Estate Market Trends

Roscoe Village Chicago Real Estate Market Trends

 

Start your Roscoe Village 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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Terri Buseman

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