Fast Sale Likely, Not Guaranteed in Lincoln Park: Neighborhood Update

Start your Lincoln Park home search here.

Lincoln Park

Housing Type: Condo

Like last month the month's supply of inventory is creeping up slightly, but homes in the lower price ranges are selling in 1-2 months. The higher priced homes are taking closer to three months to sell, on average. There was a spike in inventory among the $800-900k homes. Most of the new listings are new construction, of a variety of developments. The median sales price for condos in Lincoln Park was $395,000.

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

Price Range: $800,000+

 

Lincoln Park

Housing Type: Townhome

Despite a couple of long sales here and there townhomes continue to move very fast. The homes that took a long time to sell serves as a good reminder that even in a fast moving market no one is guaranteed a quick sale. This is why sellers need to be extra careful with their marketing and pricing strategy. Sometimes the price is too high, sometimes a little carpeting or paint can do the trick. The median sales price for townhomes was $760,000.

Price Range: $400,000-800,000

Price Range: $800,000+

 

Lincoln Park

Housing Type: Single Family

This slow moving market hasn't seen a lot of activity. However, we can easily see in these charts how long it can take some of these luxury homes to sell. There were 4 sales in the $2-3m range with an average market time of 257 days. One of those homes took 361 days to sell and another took 610 days. Patience is the name of the game when selling a luxury single family home! The median sales price for single family homes was $1,450,000.

Price Range: $1m-5m

Price Range: $5m+

Start your Lincoln 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.ChicagoCityHomesForSale.com  

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Comment balloon 3 commentsTerri Buseman • September 15 2017 10:20PM
Fast Sale Likely, Not Guaranteed in Lincoln Park: Neighborhood Update
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Start your Lincoln Park home search here Lincoln Park Housing Type: Condo The condo market in Lincoln Park is still moving fast, like last month Only a few more homes are coming to the market than are selling, so inventory levels are… more
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Start your Lincoln Park home search here Lincoln Park Housing Type: Condo It's going to be a busy fall season for Lincoln Park condos. Just like last month we are continuing to see homes come to the market nearly as fast as they sell. Most… more
More Inventory Isn't Enough for Lincoln Park: Neighborhood Update
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Start your Lincoln Park home search here Lincoln Park Housing Type: Condo Overall the condo market has been picking up speed since last month A lot of homes have come to the market in the $400-600k range, but they are not in the same building… more