Buyer's Market for $1-2m SFHs in Bucktown: Neighborhood Update

Start your Bucktown home search here.

Bucktown

Housing Type: Condo

A surge of listings in the $400-600 range has not been enough to get Bucktown out of the seller's market we described in our last report. With a month's supply of inventory of under 2 months in most price ranges it looks like it will be quite some time before the inventory levels build up enough to balance the market. The median sales price for condos in Bucktown was $278,000.

 

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

Price Range: $800,000+

 

Bucktown

Housing Type: Townhome

Again, there aren't any townhomes available and when they do come to the market they go under contract almost immediately. In fact, the average market time for the ones that are under contract is only 12 days.

 

Price Range: $400,000-$800,000 

Bucktown

Housing Type: Single Family

While much of the single family market is selling out there are nearly twice as many homes available in the $1-2m range as there were in our last report. Unlike the rest of the neighborhood, those houses are in a buyer's market. With extra competition, sellers will need to be prepared for longer market times and lower offers. 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 $540,000. 

 

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 • September 14 2017 05:46PM

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