Selling in Lakeview? Know Your Specific Market: Neighborhood Update

Start your Lakeview East home search here.

Lakeview East

Housing Type: Condo

Inventory is a little lower since our last report. More homes are selling in only a month or two. Some price ranges still have significantly more inventory than others, so it is important for sellers to not just learn about the neighborhood market, but also how homes are moving within their target price range. For example, there are 30 homes available in the $400-600k range. Of those 12 are priced between $475k-525k. The $400-500k range is at 2.4 month's supply of inventory and the $500-600k range is at 7.7%. Those in the $475-525k range should look a little closer. That range has 6.3 month's supply. It's a balanced market. The median sales price for condos was $256,250.

 

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

Price Range: $800,000+

Lakeview East

Housing Type: Townhome

Townhomes continue to sell very quickly, with the last sale only taking 4 days. This is not the case for everyone though. The three that are available have been on the market for over two months. The least expensive needs updating, but the other two are newly remodeled. When a home has many new finishes it can sometimes be tricky to price and that might be why these are still available. The one with the longest listing time had dropped by $70k so far. The sellers might just be figuring out how much value they added. The median sales price for townhomes was $706,400.

    

Price Range: $400,000-800,000

Price Range: $800,000+

Lakeview East

Housing Type: Single Family

The home that is under contract has a market time of only 39 days. The others have an average market time of 391 days. They are all priced at $700k+ compared to the one that went under contract. These homes are all listed at approx. $2m or more. They will always take a little longer to sell as they have a smaller buyer pool and may cater to specific tastes. 

 

Price Range: $800,000+

Start your Lakeview East 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

Your Real Estate Partner

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Visit: TerriBuseman.com

Cell: 312 208 5166

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Comment balloon 2 commentsTerri Buseman • December 14 2017 09:59PM
Selling in Lakeview? Know Your Specific Market: Neighborhood Update
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