Bucktown, Chicago Neighborhood Market Update

Start your Bucktown home search here.

The most important element in getting your home sold in a timely fashion is pricing it correctly. When you set the right price, you'll be attracting buyers who are looking for exactly the type of home you're offering.

As a buyer or a seller it is vital to understand the specific marketplace you are in. Being a city of neighborhoods Chicago has a slew of different markets. We want to educate you on the different markets and give you the opportunity to watch a variety of them.

In this blog series we will 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.

 

Bucktown

Housing Type: Condo

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

 Bucktown Chicago Real Estate Market Trends

Bucktown Chicago Real Estate Market Trends

 

 

Bucktown

Housing Type: Condo

Price Range: $800,000+

There are currently two homes listed in the $1,000,000-2,000,000 price range, for one month's supply of inventory.

With twenty condos either sold or under contract and only ten available it is clear there are far more buyers than sellers in Bucktown. Homes are selling within 1-3 months and at this rate there is hardly a month's supply of inventory. If you are thinking of selling now is the time to get a quick sale for top dollar! The median sales price for condos was $511,950.

 

Bucktown

Housing Type: Townhome

Price Range: $400,000-800,000

There is only one listing in the $400,000-500,000 range. One home sold in four days for $555,000.

 

Bucktown

Housing Type: Single Family

Price Range: $400,000-800,000

Bucktown Chicago Real Estate Market Trends

 

The home that sold did so in only 95 days.

Bucktown

Housing Type: Single Family

Price Range: $800,000+

 Bucktown Chicago Real Estate Market Trends

 Bucktown Chicago Real Estate Market Trends

 

The most noticeable number in these charts is the 14 current listings in the $1,000,000-2,000,000 range. With a variety of home to choose from and 5.4 month's supply of inventory this looks like a rather balanced market. If you are in the market for one of these homes you will have your choice, but be prepared for multiple offers. The homes that sold did so in an average of only 57 days, that's less than two months. There are houses to buy here, but they are selling fast! The median sales price for single family homes was $912,500.

Start your Bucktown home search here. 

 


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.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • April 04 2016 12:28PM

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