Many Condos Selling in Under a Month: River North Neighborhood Update

Start your River North home search here.

 

River North

Housing Type: Condo

There have been quite a few new listings over the past month. While there has been such little inventory these listings are a welcome sight and many sellers are seeing fast closings. The average market time for the $400-500k range is only 24 days, so even though that price range has seen a good increase in listings the month's supply of inventory is still super low, at only one month. There is no need for sellers in this neighborhood to wait until spring to list. The market is moving early this year. The median sales price of River North Condos was $390,000.

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

 River North Chicago Neighborhood Real Estate Market Update

River North Chicago Neighborhood Real Estate Market Update

Price Range: $800,000+

River North Chicago Neighborhood Real Estate Market Update

2020 North Lincoln Park West #20M

 

River North

Housing Type: Townhome

There are basically three markets among the townhomes right now. Two are listed in the $700-800k range and they are about the same size and in the same development. One has a market time of 230 days and the other was just listed today. The sellers will be seeking the same buyers. The other two homes have a nearly $1.2m price difference, so neither of them have competition in the neighborhood. The less expensive one has been on the market for 79 days and the more expensive one has a market time of 161 days. The more expensive one is also located on the 12th floor of a luxury building. 

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


Price Range: $800,000+

River North Chicago Neighborhood Real Estate Market Update

Start your River North 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 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.

 


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

Your Real Estate Partner

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Visit: TerriBuseman.com

Cell: 312 208 5166

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Comment balloon 1 commentTerri Buseman • February 14 2017 08:51PM

Comments

Terri Buseman All important information for buyers and sellers, alike, to consider and keep in mind while shopping the North Chicago Real Estate Market.  Thanks for sharing!

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (HomeSmart Realty West & Geneva Financial, Llc.) over 2 years ago

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