Faster Sales Lower Month's Supply in River North: Neighborhood Update

Start your River North home search here.

 

River North

Housing Type: Condo

Inventory remains low among all of the condos. It has actually dropped, since our last report, among some of the higher priced ones due to a few quick sales. Most homes are taking only 2-3 months to sell. Sellers can aim for a quick sales time by pricing their home close to market value and making sure it shows like a magazine. Buyers tend to like bright spacious homes that show like a model unit in new construction. The median sales price of River North condos was $596,267.

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

 

 

Price Range: $800,000+

River North

Housing Type: Townhome

There have been hardly any changes among the townhomes. One of the ones that is under contract has a market time of 487 days. It is a short sale with two lenders involved and the home is in need of a complete rehab. A situation like that requires a very particular buyer. The other home that is under contract has been on the market for 96 days. Currently the average market time for the homes that are available is 273 days. 

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

Price Range: $800,000+

River North

Housing Type: Single Family

The home that is under contract has been on the market for 134 days. There is a newer listing in the $2-3m range and the home in the $4-5m range has a market time of 168 days, so far.   

Price Range: $2m+

Start your River North 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 only has condos) 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 • November 20 2017 04:46PM

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