9 Condos Under Contract Within 30 days: River West Neighborhood Update

Start your River West/Fulton River District home search here.

 

River West/Fulton River District

Housing Type: Condo

Nine of the eleven homes that are under contract in the $400-500k range were newly listed after our last report. All the homes that are under contract in that price range have and average market time of 35 days. Many sellers are used to the idea of waiting for spring to list their home, but this winter is throwing that trend out the window. Since inventory has been so low buyers are ready to jump as soon as the home they like comes to the market. If you are thinking of selling now is a great time to list your home! The median sales price for condos in River West & the Fulton River District was $406,000.

 

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

River West Fulton River District Chicago Real Estate Market Update

River West Fulton River District Chicago Real Estate Market Update

Price Range: $800,000+

River West Fulton River District Chicago Real Estate Market Update

River West Fulton River District Chicago Real Estate Market Update
River West/Fulton River District

Housing Type: Townhome

Townhomes continue to sell very quickly. Overall the average market time for the ones that sold is 68 days and for the ones under contract, it is 46 days. There is one active townhome that has been on the market for 804 days. However, the others have only been listed for 44-135 days. Buyers have access to a lot of tools these days that help them understand fair market value. It is vital for seller's to price their home accordingly or it won't sell. It is said that pricing is 82% of the marketing! See the chart at the bottom for a look into how pricing affects visibility. The median sales price for townhomes was $793,750.

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

River West Fulton River District Chicago Real Estate Market Update

River West Fulton River District Chicago Real Estate Market Update

Price Range: $800,000+

 River West Fulton River District Chicago Real Estate Market Update

 

River West Fulton River District Chicago Real Estate Market Update

River West/Fulton River District

Housing Type: Single Family Home

Looks like a little hard work paid off. The home that was once water damaged and listed for $599k got a beautiful face-lift and after only 9 days on the market, since it was rehabbed, it closed for $930k. 

Price Range: $800,000+

River West Fulton River District Chicago Real Estate Market Update 

River West Fulton River District Chicago Real Estate Market Update


Start your River West/Fulton River District 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

Your Real Estate Partner

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Visit: TerriBuseman.com

Cell: 312 208 5166

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Comment balloon 0 commentsTerri Buseman • February 15 2017 06:42PM

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