Wicker Park Neighborhood Update: Year in Review 2016-2017

Start your Wicker Park home search here.

 

Wicker Park

Housing Type: Condo

Last month we were concerned about the fact that 8 listings were canceled the month before. This time it has only been 3 and more homes have come to the market. Over the course of the past year homes have been selling very fast, just around a month on average. As a result, the month's supply of inventory has remained quite low. Homes are continuing to sell very fast, but if more keep coming to the market we could see this neighborhood start to balance out. Since the month's supply of inventory is only around 1-2 months, it will likely take awhile for the market to turn. The median sales price for condos in Wicker Park was $429,000 over the past month and $429,750 over the past year.  

 

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

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends

Price Range: $800,000+ 

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends

Wicker Park

Housing Type: Townhome

Townhomes are being snatched up in this neighborhood. Overall, the average market time for these homes was 48 days and for the ones under contract it is currently 112 days. One of the ones that is under contract only has a listing time of 2 days and another was only listed for 1 day. This has clearly been a trend for awhile. We can see that over the last year the average market times are around a month or less and in some cases just a few weeks. That's averaging multiple transactions across the course of the year. This is definitely a market where the buyer competition is going to continue. Buyers need to be well-versed in the values of these homes so they can make a strong offer. The median sales price for townhomes over the past month was $537,500 and for the past year it was $662,960.  

 

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

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends

Price Range: $800,000+ 

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
  Wicker Park Chicago Real Estate Market Trends

Wicker Park

Housing Type: Single Family

Last month we talked about 11 listings that were canceled. We've had a few listings come to the market, but not a flood of them. The higher priced homes have been in a balanced market at just over 6 months for the year. They could be pushed into a buyer's market if all the formerly canceled listings relist at about the same time. However, homes are still selling pretty fast, in just a few months. If the listings that were canceled trickle back into the market then this market could remain balanced through the busy season. The median sales price for single family homes was $1,395,750 for the past month and $1,137,750 over the past year.

 

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

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
Wicker Park Chicago Real Estate Market Trends

Price Range: $800,000+

Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends
Wicker Park Chicago Real Estate Market Trends Wicker Park Chicago Real Estate Market Trends

Start your Wicker 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.

 


 

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Terri Buseman

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 1 commentTerri Buseman • January 26 2017 08:29PM

Comments

Thank you for sharing an update on what's happening in your local Real Estate market Terri Buseman!

Posted by Michelle Carr-Crowe Just Call 408-252-8900 Top 1%!, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty) almost 2 years ago

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