Strong Seller's Market Continues in Bucktown: Neighborhood Update

Start your Bucktown home search here.

Bucktown

Housing Type: Condo

Just like last month condos continue to sell very fast in Bucktown. The average market time for the homes that sold in the $400-500k range was 11 days and for those that are under contract 60% have a market time of under a month and in the $500-600k range all but one of the condos that are under contract have a market time of under 2 months. If you are thinking of selling your Bucktown condo there are buyers ready to close! Be careful to price your home fairly and you should have a lot of interest. The median sales price for condos in Bucktown was $378,500.

 

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

Price Range: $800,000+


Bucktown

Housing Type: Townhome

All of the townhomes have gone under contract, even the ones that came to the market since the last report, except one. That one has been on the market since last year. The pictures and description are great. They say pricing is 82% of marketing. So far the home has lowered its price by $24k. When homes are listed at a fair market value from the start buyers make offers. See the chart at the bottom for information on how to price your home for optimal visibility.   

 

Price Range: $400,000-$800,000 

 

Bucktown

Housing Type: Single Family

A few more homes came to the market than sold or went under contract in the higher price ranges. However, in the lower price ranges over 70% of the homes that are under contract have a market time of 47 days or less. In either case, nearly all of these homes are in a seller's market. Potential sellers should just take extra care in the $1-2m range where it is approaching a buyer's market. Buyers have more to choose from in that market which makes it most important for sellers to price their home for the best visibility. The median sales price for single-family homes was $850,000. 

 

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

Price Range: $800,000+

Start your Bucktown 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 doeesn'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

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • May 13 2017 08:32PM

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