Lincoln Park Neighborhood Update: Year in Review 2016-2017

Start your Lincoln Park home search here.

 

Lincoln Park

Housing Type: Condo

A lot of condos have been listed over the past month. A few quick sales have been keeping the month's supply of inventory stable. It's still deep in a seller's market for the lower priced homes, but as the value of the homes increases so does the supply. The higher priced condos are actually in a buyer's market and have been all year. This past month saw such a large increase in listings that when the spring market comes along, if we see the same spike we normally do those inventory increases could push the entire market toward balanced or a buyer's market. The median sales price for condos over the past month was $557,000 and over the past year it was $415,450.

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

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

Price Range: $800,000+

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

 

Lincoln Park

Housing Type: Townhome

The townhomes started moving super fast. Nearly every recent sale had a market time of less than 1 week. Over the past year the numbers are a little more conservative, but even at that townhomes continue to sell quickly at less than 2 months. As long as this demand keeps up it will be awhile before this seller's market balances out. The median sales price for townhomes over the past month was $525,000 and for the past year it was $690,500.

Price Range: $400,000-800,000

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

Price Range: $800,000+

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

 

Lincoln Park

Housing Type: Single Family

We've had a few more houses come to the market, but a few quick sales have helped the month's supply of inventory drop a little. Overall most of these homes are still in a buyer's market. It may be reassuring for sellers to see that over the past year most homes sold in less than 250 days. These are very special homes that cater to a small group of buyers. Sellers will have to be prepared for a long listing time, but with the right price and marketing these homes can sell quickly. The median sales price for single family homes over the past month was $2,102,250 and over the past year it was $1,560,000.

Price Range: $1m-5m

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

Price Range: $5m+

Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends
Lincoln Park Chicago Real Estate Market Trends Lincoln Park Chicago Real Estate Market Trends

 

Start your Lincoln Park 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!

Terri Buseman

Your Real Estate Partner

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Visit: TerriBuseman.com

Cell: 312 208 5166

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Comment balloon 0 commentsTerri Buseman • January 30 2017 06:45PM
Lincoln Park Neighborhood Update: Year in Review 2016-2017
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