Fast & Slow Sales in University Village: Neighborhood Update

Start your University Village/Little Italy home search here.

University Village/Little Italy

Housing Type: Condo

A few quick sales have practically demolished the little bit of inventory this market had. The homes that closed in the $400-500k range were new construction. Those that remain on the market are resale and have been listed for over 3 months. Even in the same price range it seems that resale homes and new construction might be in different markets. December tends to be a slow month in real estate. These sellers can try more aggressive strategies to attract a buyer, but they should be prepared for a dip in activity. The median sales price for condos in University Village was $402,450.

 

Price Range: $400,000-$800,000 

University Village/Little Italy

Housing Type: Townhome

There hasn't been a lot of activity among the townhomes. Most of the new construction is under contract and what is active only accounts for about 20% of available properties. Although the months supply of inventory is very low these homes are taking a few months to sell. The median sales price for townhomes in University Village/Little Italy was $550,000.

 

Price Range: $400,000-800,000

Price Range: $800,000+

University Village/Little Italy

Housing Type: Single Family

The home that closed sold in only 21 days and was the second highest priced listing among the single family homes. It was listed for $1,190,000 and sold for $1,130,000. All the other homes have been on the market for over 4 months. The other sellers might want to take a look at this home as a case study to see if there are ways they can adjust their listing to make it more attractive and find that buyer. 

 

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

Price Range: $800,000+

 

Start your University Village/Little Italy 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 0 commentsTerri Buseman • November 30 2017 11:21PM

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