More Inventory Among Bucktown Single Family Homes: Neighborhood Update

Start your Bucktown home search here.

Bucktown

Housing Type: Condo

Not very many condos came to the market since our last report and homes are still selling super fast. Most of them have a market time of under one month making the two price ranges with an average market time of 70 days look long, that's just over two months. To simply state Bucktown is still in a seller's market is nearly an understatement. This is great news for sellers, but it is still important to price your home for the market. Buyers are savvy and they don't want to overpay if they can just wait for another home to come to the market. The median sales price for condos in Bucktown was $500,000.

 

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

Price Range: $800,000+

 

Bucktown

Housing Type: Townhome

There is not a single townhome available right now. If you are thinking of selling your townhome you will see all of the traffic! Study the recent comps carefully and price your home accordingly. Even though you would be the only game in town the buyers will have to agree with your valuation and an appraiser will likely need to be convinced that the price is fair as well. The median sales price for townhomes was $547,500.

 

Price Range: $400,000-$800,000 

Bucktown

Housing Type: Single Family

For the most part the single family homes are still selling very fast. However, as we saw was coming in the last report the $1-2m range is now in a balanced market and it is approaching a buyers market. Seller's will notice the increase in competition in this price range and will need to take extra care in marketing their home. See the chart below for an explanation of how the month's supply of inventory affects what kind of market a home is in. The median sales price for single-family homes was $997,500. 

 

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 • July 16 2017 08:09PM

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