Dearborn Park Neighborhood Update: Year in Review 2016-2017

Start your Dearborn Park & Dearborn Mews home search here.

 

Dearborn Park & Dearborn Mews

Housing Type: Condo

Condos in Dearborn Park haven't seen any activity over the past month. We can see that over the course of the year homes have been selling very quickly. The average market times have remained at 4 months or less and some homes even sold in a matter of days. There have been so many more buyers than sellers that the month's supply of inventory hasn't been much over 3 months in any price range. With such little inventory it will still be awhile before condos in this neighborhood approach a balanced market.

Price Range: $400,000-$800,000 

Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
  Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends

Price Range: $800,000+

                                                                                   
 

 

Dearborn Park & Dearborn Mews

Housing Type: Townhome

Townhomes have been selling even faster this year. The month's supply of inventory has barely reached 1 in many price ranges and most homes have sold within 3 months. This area is hot and there isn't more room for development, so it will be awhile before the market turns in favor of the buyer.

Price Range: $400,000-800,000 

Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends

Price Range: $800,000+

                                                                                  
 

 
 Dearborn Park & Dearborn Mews

Housing Type: Single Family Home

The single family homes are even harder to come by in this neighborhood. One sold with a market time of 189 days. Another home was listed, but that listing was cancelled after 252 days. Dearborn Park is mostly townhomes, so the buyer pools are going to be larger for the mid-priced townhomes than for any other type of property. As prices increase fewer buyers can qualify for a home, so it often takes longer to sell, even if there is only 1 on the market.

Price Range: $800,000+

                                                                                   Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends
  Dearborn Park & Dearborn Mews Chicago Real Estate Market Trends 


Start your Dearborn Park & Dearborn Mews 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!

 

Terri Buseman

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • January 09 2017 09:05PM
Dearborn Park Neighborhood Update: Year in Review 2016-2017
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Start your Dearborn Park & Dearborn Mews home search here Dearborn Park & Dearborn Mews Housing Type: Condo Condos in Dearborn Park haven't seen any activity over the past month We can see that over the course of the year homes have… more
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Start your Dearborn Park & Dearborn Mews home search here There was very little activity in this neighborhood last month but since then nearly all of the townhomes have gone under contract! There haven't been any changes with the condos… more
Buyers Seeing all Dearborn Park Homes for Sale: Neighborhood Update
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Start your Dearborn Park & Dearborn Mews home search here The only change that has occurred in this neighborhood since last month is one townhome listing was canceled after 45 days. Across all price ranges, the average market time for… more
Townhome Market Times Increasing in Dearborn Park: Neighborhood Update
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Start your Dearborn Park & Dearborn Mews home search here Dearborn Park & Dearborn Mews Housing Type: Condo As we mentioned last month there had only been 2 closings in the past 4 months for the $400-500k range. The sale last month took… more
Seller's Market Continues in Dearborn Park: Neighborhood Update
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Start your Dearborn Park & Dearborn Mews home search here Dearborn Park & Dearborn Mews Housing Type: Condo With a market time of 62 days the lone condo that was still available during our report last month has gone under contract. Over… more
Inventory is Rising Among Dearborn Park Townhomes: Neighborhood Update
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Start your Dearborn Park & Dearborn Mews home search here *Allow me to let you in on a little industry secret. We have two ways of collecting these numbers for you. One is through a reporting program in the MLS called Infosparks. The other is… more
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View current inventory of similar homes in the South Loop. Listing Details Dearborn Park II Townhome 1254 S Federal F, CHICAGO, IL 60605 Original List Price: $595, 000 MLS number: 09276107 Bedrooms: 2 Bathrooms: 1. 1 Square Footage: 1, 510 Call… more
Dearborn Park, Chicago June Market Update 2016
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Start your Dearborn Park & Dearborn Mews home search here Dearborn Park & Dearborn Mews Housing Type: Condo Last month we saw how quickly some condos came to the market and promptly went under contract. Now with a few sales we can see… more
Dearborn Park & Mews, Chicago Neighborhood Market Update
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Start your Dearborn Park & Dearborn Mews home search here In this blog series we will 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… more
Dearborn Park & Mews, Chicago Neighborhood Market Update
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Start your Dearborn Park & Dearborn Mews home search here The most important element in getting your home sold in a timely fashion is pricing it correctly. When you set the right price, you'll be attracting buyers who are looking for exactly… more