Gold Coast Luxury Homes in Their Own Market: Neighborhood Update

Start your Gold Coast home search here.

 

Gold Coast

Housing Type: Condo

With a few more homes coming to the market than selling this market is continuing the balanced trend we saw last month. Market times among the lower priced homes are shorter and we might see that continue through the spring. The higher priced homes are in a buyers market and they are taking longer to sell. As a seller this is important to watch. This neighborhood is seeing a different market than much of the city. A more aggressive pricing strategy is likely needed for a quick sale. The median sales price for condos was $370,000.

 

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

Price Range: $800,000+

Gold Coast

Housing Type: 

Townhome

 

 

 

 

 

Only one townhome has come to the market this past month, making all the available homes priced at about $1.3m or more. The highest priced listing is $6m and has been on the market for 168 days. Overall the average market time for the active properties is 183 days with market times of 10 days up to 528 days. Although most have been listed for less than 200 days. These high priced homes have a smaller buyer pool, so they often take a little longer to sell. Even though there are few of them sellers need to be a little more aggressive to find a buyer quickly. The median sales price for Gold Coast townhomes was $879,850.  

Price Range $800,000+

Gold Coast

Housing Type: Single Family Home

A couple homes have come to the market and one sold in only 5 days. Overall, however, the average market time for sold properties is 203 days and for those under contract it's 539. The single family home market in the Gold Coast is ultra luxury. It's a different market than most homes in Chicago. Buyers for these homes may not live in Chicago so the selling agents need to rely heavily on their international network and possibly even use mass media to find the right buyer. The median sales price for Gold Coast houses was $2,250,000 

 

Price Range: $1,000,000-5,000,000

Price Range: $5,000,000+

Start your Gold Coast 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.ChicagoCityHomesForSale.com  

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Comment balloon 2 commentsTerri Buseman • May 04 2017 02:09PM
Gold Coast Luxury Homes in Their Own Market: Neighborhood Update
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