Some South Loop Condos Seeing a Balancing Market: Neighborhood Update

Begin your South Loop home search here. 

 

South Loop

Housing Type: Condo

We are seeing a slight increase in inventory since our last report. Some of the higher price ranges are just at the cusp of a balanced market. This is good for buyers and sellers. When buyers have some homes to compare they feel more confident in making a decision. Sellers may see a slight increase in market times, but if they can encourage a fast sale by pricing the home fairly and making the home look beautiful, spacious, and up to date. The median sales price for condos was $314,312.

 

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

Price Range: $800,000+

 

South Loop

Housing Type: Townhome

The inventory of townhomes continues to be low and the properties continue to sell pretty fast. As the holiday season looms in the near future sellers might see a slight seasonal slow down. However, inventory has been so low in this neighborhood that the seller's market will likely remain through the end of the year. The median sales price for townhomes was $636,500.

 

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

Price Range: $800,000+

South Loop

Housing Type: Single Family

Only three houses are currently available. One is a Prairie Ave. mansion and the other two are in a gated community at the south end of Dearborn Park. With a little cosmetic work the least expensive of these homes could easily be brought up to date and, therefore, up to value with its neighbors. 

 

Price Range: $400,000-800,000

Price Range: $800,000+


Begin your South Loop 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

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • September 30 2017 06:46PM
Some South Loop Condos Seeing a Balancing Market: Neighborhood Update
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