Streeterville Neighborhood Update: Year in Review 2016-2017

By
Real Estate Agent with RE/MAX Premier Properties

Start your Streeterville home search here. 

 

Streeterville

Housing Type: Condo

Last month we talked about how quickly some condos are selling in this neighborhood. This is still happening, there were two recent closings in the $700-800k range with an average market time of only 5 days! However, the nice thing about the Streeterville market is that it is closer to balanced than many other markets, which still very much favor the sellers. Overall this neighborhood is still in a seller's market too, but the inventory levels are higher, giving buyers more choices and sellers a little competition. A balanced market is ideal, which happens when there is 6-8 months of inventory. If a few more sellers come to the market before the homes that are available sell we could see this market balance out in the new year. The median sales price for condos in Streeterville over the past month was $378,750 and for the past year it was $405,000.

Price Range: $400,000-$800,000 

Streeterville Chicago Real Estate Market Trends Streeterville Chicago Real Estate Market Trends
Streeterville Chicago Real Estate Market Trends Streeterville Chicago Real Estate Market Trends


Price Range: $800,000+

Streeterville Chicago Real Estate Market Trends Streeterville Chicago Real Estate Market Trends
Streeterville Chicago Real Estate Market Trends Streeterville Chicago Real Estate Market Trends

Streeterville

Housing Type: Townhome

There are just a few townhomes in Streeterville, so we won't see a lot of activity over the course of the year. Overall these homes tend to sell rather quickly. Two that took a long time to sell had a land lease to sell or continue with the purchase of the home. This is not common in Chicago and that could have contributed to the long market time of that home. Sellers continue to have the easiest time when the home is turn-key and the transaction is simple for the buyer. The median sales price of townhomes over the course of the year was $755,000.

Price Range: $400,000-800,000

Streeterville Chicago Real Estate Market Trends
  Streeterville Chicago Real Estate Market Trends


Price Range: $800,000+

                                                                                   Streeterville Chicago Real Estate Market Trends
  Streeterville Chicago Real Estate Market Trends


Start your Streeterville 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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Terri Buseman

Downtown Chicago
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