Many Homes Selling Fast in the Loop: Neighborhood Update

Begin your Chicago Loop home search here.

 

Loop

Housing Type: Condo

Inventory levels are still holding steady since last month. While some properties take awhile to sell about 1/2 of the condos that closed for over $400k sold in less than 40 days. A few even sold before they were listed. The demand for condos in the Loop remains high, especially among 2 bedroom homes. We are just in the first of the busiest months of the year, so as a seller there is still time to list your home and sell it before we get deep into the summer months. The median sales price for condos was $385,000.

 

Price Range: $400,000-$800,000 

Loop Chicago Neighborhood Real Estate Market Update

Loop Chicago Neighborhood Real Estate Market Update

Price Range: $800,000+

Loop Chicago Neighborhood Real Estate Market Update

Loop Chicago Neighborhood Real Estate Market Update

Loop

Housing Type: Townhome

The townhome that had new stainless steel appliances, but originally showed pictures of white appliances sold for cash only 9 days after updating the pictures and lowering the price. Another townhome in Dearborn Park I came to the market and went under contract in only 20 days. The home that closed sold for $487,500.

 

Price Range: $400,000-$800,000 

Loop Chicago Neighborhood Real Estate Market Update

Loop Chicago Neighborhood Real Estate Market Update

 

Begin your Chicago Loop 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 0 commentsTerri Buseman • April 25 2017 05:44PM
Many Homes Selling Fast in the Loop: Neighborhood Update
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Loop Housing Type: Condo Inventory levels are holding steady from last month which is still remarkably low. It's a good thing there is some new construction happening, although it is all at the higher price ranges. Just the other day a buyer asked… more