University Village Homes Selling Fast: 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

There were more closings than expected last month. One home closed for over list price, which moved it up to the $400-500k range. The list price was $395,000 + $25k for parking. If you include parking then the sellers were always asking over $400k for the home, it just didn't register as such on the MLS. In the end the home sold for $410,000. So it was over list price for the home, but if the closing price includes the parking then the buyers saved $10k over asking. The median sales price for condos was $354,000.

 

Price Range: $400,000-$800,000 

University Village Little Italy Chicago Real Estate Market Trends

University Village Little Italy Chicago Real Estate Market Trends

 

University Village/Little Italy

Housing Type: Townhome

Townhomes are selling, but very few listings have come to the market. The average market time for active listings is currently 149 days and for those under contract, it is 154 days. The median sales price for townhomes was $465,000.

 

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

The house that was listed in the $800-900k range was cancelled. It has been listed since 2015 and was cancelled one other time for a few days, before being relisted as new. They are persistent owners who have lowered their price multiple times. This home could very well be relisted in just a few days.

 

Price Range: $800,000+

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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Terri Buseman

Downtown Chicago
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