Some South Loop Condos Seeing a Balancing Market: Neighborhood Update

Begin your South Loop home search here. 

 

South Loop

Housing Type: Condo

We are seeing a slight increase in inventory since our last report. Some of the higher price ranges are just at the cusp of a balanced market. This is good for buyers and sellers. When buyers have some homes to compare they feel more confident in making a decision. Sellers may see a slight increase in market times, but if they can encourage a fast sale by pricing the home fairly and making the home look beautiful, spacious, and up to date. The median sales price for condos was $314,312.

 

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

Price Range: $800,000+

 

South Loop

Housing Type: Townhome

The inventory of townhomes continues to be low and the properties continue to sell pretty fast. As the holiday season looms in the near future sellers might see a slight seasonal slow down. However, inventory has been so low in this neighborhood that the seller's market will likely remain through the end of the year. The median sales price for townhomes was $636,500.

 

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

Price Range: $800,000+

South Loop

Housing Type: Single Family

Only three houses are currently available. One is a Prairie Ave. mansion and the other two are in a gated community at the south end of Dearborn Park. With a little cosmetic work the least expensive of these homes could easily be brought up to date and, therefore, up to value with its neighbors. 

 

Price Range: $400,000-800,000

Price Range: $800,000+


Begin your South 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  

Chicago City Estates Logo         

FB Icon          Twitter Icon         Linked In Icon

 


Comment balloon 0 commentsTerri Buseman • September 30 2017 06:46PM
Some South Loop Condos Seeing a Balancing Market: Neighborhood Update
share
Begin your South Loop home search here South Loop Housing Type: Condo We are seeing a slight increase in inventory since our last report Some of the higher price ranges are just at the cusp of a balanced market. This is good for buyers and… more
South Loop Townhomes Just as in Demand as Ever: Neighborhood Update
share
Begin your South Loop home search here South Loop Housing Type: Condo Inventory levels have either dropped slightly or stayed about the same since our last report Market times have been pretty low too. In the $700-800k range and the $1-2m… more
South Loop Duplex with 400sf Terrace
share
View current inventory of 3+ bedroom condos in Chicago's N ear South Side Listing Details Duplex with 400sf Terrace 51 W 15th J2, CHICAGO, IL 60605 Original List Price: $625, 000 MLS number: 09722830 Bedrooms: 3 Bathrooms: 2. 1 Square Footage:… more
Price Significantly Cut on Sold South Loop House: Neighborhood Update
share
Begin your South Loop home search here South Loop Housing Type: Condo Just like we saw yesterday in the Loop inventory is increasing slightly over last month and pushing the condos that are priced at $600k and higher into a balanced market… more
Corner Townhome with Landscaped Backyard
share
View current inventory of 2+ bedroom homes for sale in the Loop Listing Details Corner Townhome with Landscaped Backyard 1240 S Federal B, Chicago IL 60605 Original List Price: $439, 000 MLS number: 09637635 Bedrooms: 2 Bathrooms: 2 Call… more
Huge End Unit South Loop Townhome
share
View current inventory of 4+ bedroom homes for sale in the Near South Side Listing Details Huge End Unit Townhome 47 W 15th B, Chicago IL 60605 Original List Price: $949, 000 MLS number: 09622933 Bedrooms: 4 Bathrooms: 3. 1 Call Terri Buseman… more
Competition Increasing for South Loop Sellers: Neighborhood Update
share
Begin your South Loop home search here South Loop Housing Type: Condo Buyers and sellers are hitting the spring market hard. There have been quite a few listings that came to the market since last month but it's hardly enough to keep up… more
Plenty of Outdoor Space with This South Loop Townhome
share
View current inventory of 2+ bedroom homes for rent in the Near South Side Listing Details South Loop Michigan Ave Townhome 1830 S Michigan Ave B, Chicago IL 60616 Original List Price: $2, 900 MLS number: 09596922 Bedrooms: 2 Bathrooms: 2. 1 … more
Dazzling Light Filled Townhome
share
View current inventory of 2+ bedroom condos and townhomes for sale in the Near South Side Listing Details Dearborn Park Corner Unit Townhome 1315 S Plymouth Ct A, Chicago IL 60605 Original List Price: $499, 000 MLS number: 09585176 Bedrooms: 2… more
Sell Your South Loop Condo Before Spring: Neighborhood Update
share
Begin your South Loop home search here South Loop Housing Type: Condo Just a few more homes came to the market than went under contract and sold since last month It's hardly been enough to push inventory levels up, but homes are taking a… more