Demand for Townhomes Sky High in Lakeview East: Neighborhood Update

By
Real Estate Agent with RE/MAX Premier Properties

Start your Lakeview East home search here.

 *Aaand we're back! After some tougher than usual to solve technical difficulties our blog is up and running and we can resume our daily updates. We apologize for the break and thank you for your patience.

Lakeview East

Housing Type: Condo

The seller's market continues, like last month, as homes are listed at the same pace in which they go under contract. In general homes are selling very quickly in 2-3 months, but there are still a couple of pockets in which a price range is closer to a balanced market. Sellers will need to be aware of just how much competition they have so they can prepare their home well before listing it. The median sales price for condos was $315,000.

 

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

Lakeview East Chicago Real Estate Market Trends

Lakeview East Chicago Real Estate Market Trends

Price Range: $800,000+

Lakeview East Chicago Real Estate Market Trends

Lakeview East Chicago Real Estate Market Trends

 

Lakeview East

Housing Type: Townhome

This market still can't keep up with the demand for townhomes. The market times for the three that are under contract are 22, 16, and 11 days. The one that is still available has only been listed for 16 days.

 

Price Range: $400,000-800,000

Lakeview East Chicago Real Estate Market Trends

Price Range: $800,000+

Lakeview East Chicago Real Estate Market Trends

Lakeview East

Housing Type: Single Family

Houses are taking longer to sell than the condos and townhomes. The price ranges are pretty wide, from $520,000-4,795,000, meaning the lack of sales are not from extensive competition. There are many theories regarding why single family houses and luxury properties, in general, have been taking longer to sell lately. Rather than theorize we suggest sellers take a proactive stance when listing one of these homes. Take time to clear it out, freshen it up, and make the home look like a picture book. Have professional photos taken, including both a 3D tour and a virtual tour, and price for visibility. Pricing is the most important part of marketing. See the chart below to for information about how the right price can attract the most attention.

 

Price Range: $400,000-800,000

 Lakeview East Chicago Real Estate Market Trends

Price Range: $800,000+

Lakeview East Chicago Real Estate Market Trends 

Start your Lakeview East 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!

Posted by

Terri Buseman

Your Real Estate Partner

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Visit: TerriBuseman.com

Cell: 312 208 5166

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