Townhomes Selling Out in Wicker Park: Neighborhood Update

Start your Wicker Park home search here.

 

Wicker Park

Housing Type: Condo

The sellers market is continuing strong in Wicker Park, just as we explained in our last report. With an average market time of only 8 days among the 16 homes that sold in the $400-500k range it is clear that the buyer demand is extremely high in this neighborhood. Even so, there are currently 12 properties available in that price range. So, while buyers are snatching up homes as soon as they are listed sellers still have a little competition to contend with. It is extremely important for sellers to take care when listing their home and price it for visibility to increase their chance of a fast sale. See the chart below to learn how to price for visibility. The median sales price for condos in Wicker Park was $435,000.  

 

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

Price Range: $800,000+ 

Wicker Park

Housing Type: Townhome

Townhomes are practically selling out in Wicker Park. There are very few available and in only two price ranges that we monitor. The average market times of those that sold are still all around one month or less. Sellers are going to see a lot of foot traffic as buyers look at every available home to see if it is their dream. The median sales price for townhomes was $761,450.  

 

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

 

Price Range: $800,000+

Wicker Park

Housing Type: Single Family

The month's supply of inventory for these homes is still quite low, until you start looking at the $1m+ ranges. Those homes are in a balanced market. Only about 20% of them are new homes, so sellers are competing with like properties. Beautiful pictures and a great listing presentation paired with the right price will help these sellers get buyers in the door. The median sales price for single family homes was $1,4000,000.

 

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

Price Range: $800,000+

Start your Wicker 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

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • July 14 2017 08:02PM
Townhomes Selling Out in Wicker Park: Neighborhood Update
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