West Loop Condo Market Still Sizzling! Neighborhood Update

Start your West Loop home search here.

 

West Loop

Housing Type: Condo

The West Loop continues to be a hot market for condos. Most notably in the $400-600k range where 24 homes have come to the market since last month, but they are selling so quickly that the number of homes available has remained nearly the same! All of these price ranges have less than 3 months of inventory showing that this is still very much a seller's market. There is plenty of room for more condos to come to the market as demand is high. Prices will continue to rise and any seller looking for a quick close will have a good chance of getting it. The median sales price for condos was $401,000.

 

Price Range: $400,000-$800,000 

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

 

West Loop

Housing Type: Townhome

The seller's market continues among townhomes too. Most homes are taking no more than 1 1/2 months to sell. In every market the homes that are priced fairly, well kept, and well marketed sell the quickest and for the most money. The median sales price for townhomes was $745,000.

 

Price Range: $400,000-800,000

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

 

West Loop

Housing Type: Single Family

There are only two single family homes currently available. One is listed for $800k and has been on the market for 17 days. The other is listed for $1.7m and has been on the market for 135 days so far. 

 

Price Range: $800,000+

West Loop Chicago Real Estate Market Trends

 

Start your West 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 does 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.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • October 21 2016 12:26PM

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