Inventory Increasing Among Loop Condos: Neighborhood Update

Begin your Chicago Loop home search here.

 

Loop

Housing Type: Condo

While many condos are still selling as quickly as they were in our last report we are seeing a small increase in listings coming to the market. This is pushing most of the price ranges over $600k into a balanced market. With more competition among sellers it is increasingly important to price your property for the market and make it visible to as many buyers as possible. See the chart at the bottom of this post to learn about how pricing affects visibility. The median sales price for condos was $347,000.

 

Price Range: $400,000-$800,000 

Price Range: $800,000+

Loop

Housing Type: Townhome

Demand remains very high for townhomes. The Loop doesn't have many townhomes. The majority are in Printer's Row and Dearborn Park. All of the activity we have seen lately has been in this area. The home that sold closed for $8k over asking price, when you include the parking space that was sold with it. It sold for $440,007.

 

Price Range: $400,000-$800,000 

 

Begin your Chicago 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 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

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 1 commentTerri Buseman • June 01 2017 06:32PM

Comments

Thank you for posting this useful information about your market.

Posted by Ryan Huggins - Thousand Oaks, CA, Residential Real Estate and Investment Properties (www.HugginsHomes.com) over 1 year ago

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