West Loop Gate Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your West Loop Gate home search here.

 

West Loop Gate

Housing Type: Condo

Since last month 3 homes have gone under contract and 1 has come to the market. This neighborhood has been moving fast all year. You may remember at the beginning of 2016 Zillow named West Loop Gate the hottest neighborhood of the year and these numbers do not disappoint. Over the year the average market time for all of these price points has been around 2 months and there is no sign of that slowing down. In fact the Near West Side, which is the greater neighborhood that West Loop Gate belongs to, has been included in Zillow's list of hottest neighborhoods for 2017. Now that the holidays are over many sellers take the winter to declutter and prepare for the spring market. With a neighborhood moving as fast as this one the sellers who hit the market first will be more likely to sell fast and for top dollar. The median sales price last month was $318,000 and for the year it is $315,000.

 

Price Range: $400,000-$800,000 

West Loop Gate Chicago Real Estate Market Trends West Loop Gate Chicago Real Estate Market Trends
West Loop Gate Chicago Real Estate Market Trends West Loop Gate Chicago Real Estate Market Trends

Price Range: $800,000+

West Loop Gate Chicago Real Estate Market Trends

 

Start your West Loop Gate 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.

 


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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Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, CNE, CRS, ePro, PSA

Very informative. Thank you for sharing and best of luck!

Jan 10, 2017 11:50 AM #1
Rainmaker
191,812
Terri Buseman
RE/MAX Premier Properties - Chicago, IL
Downtown Chicago

Thanks Jeremy!

Jan 11, 2017 02:24 PM #2
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Rainmaker
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Terri Buseman

Downtown Chicago
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