Wrightwood Sheffield Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your Wrightwood Sheffield/DePaul home search here.

Wrightwood Sheffield/DePaul

Housing Type: Condo

More homes went under contract than were listed since last month, pushing the current month's supply of inventory down. Being a new year we also created charts to show how these homes have trended over the past 12 months. We can see that the month's supply of inventory has remained steady, it is about the same for this past month as it has been all year. This means these homes remain deep in a seller's market. While our average market time has been higher in the past two months overall it has been averaging at just over a month for most price ranges. Now that the holidays are over there is a good chance that sellers will see the month-to-month market times decrease again. The median sales price for condos over the past month was $465,000 and for the past year it is $509,553.

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

 Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends 
 Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends

Price Range: $800,000+

Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends
  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends

Wrightwood Sheffield/DePaul

Housing Type: Townhome

Townhomes have been selling quickly over the past year. In fact, some sold before they were listed, which is why we see more closed sales than ones that went under contract in the chart. The home that is currently listed has a market time of 114 days, which is long compared with the year-long average of a month, but it's not the longest market time we have seen. Four homes closed with longer market times than the one that is currently listed and the longest was 279 days. Being the only townhome currently on the market this one has a good chance to sell sooner. The median sales price for townhomes over the year is $660,000.

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

Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends
  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends

Price Range: $800,000+

                                                                                    Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends
  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends

Wrightwood Sheffield/DePaul

Housing Type: Single Family

Last month we talked about how the higher priced houses are seeing a balanced market. They still are this month and the annual trend is even showing the same. This is a great example of how markets within the same area or city can be very different. As a buyer or seller it is important to know your market. Oftentimes the news will talk about the market, in which they are describing the country as a whole, or maybe a wholecity, but when you look at a specific market, such as $2m+ houses in the Wrightwood/Sheffield neighborhood you can see a very different picture. Whereas the US countrywide market has been at about 4 months of inventory this year this neighborhood market, of houses listed at $2m+ has been at 7.9 months. Furthermore, the $600-700k houses in the same neighborhood have been at only 0.3 months. Clearly, it is a well-loved neighborhood and the $600-700k range is obviously more attainable. The median sales price for single family homes over the past year is $1,678,000.

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

Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends
  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends

Price Range: $800,000+

Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends
  Wrightwood Sheffield/DePaul Chicago Real Estate Market Trends


Start your Wrightwood Sheffield/DePaul home search here

*In this blog series we focus on one of twenty neighborhoods in chicago, each da, 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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Terri Buseman

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