Seller's Market Poised To Continue in Old Town: Neighborhood Update

Start your Old Town home search here.

 

Old Town & Old Town Triangle 

Housing Type: Condo

A noticeable number of condos have gone under contract since our last report which will push the seller's market into the winter. Most homes are selling in under 3 months. Often this is the time of year when the market slows down, but we have not been seeing that this year. If a seller lists now they will still have a good chance at seeing a low listing time. The median sales price for condos in Old Town was $345,000.

 

Price Range: $400,000-800,000

Price Range: $800,000+


Old Town & Old Town Triangle 

Housing Type: Townhome

Just like the condos this market continues to move fast with a steady months supply of inventory at less than three months. The median sales price among townhomes was $852,500.

 

Price Range: $400,000-800,000

Price Range: $800,000+

Old Town & Old Town Triangle

Housing Type: Single Family

Inventory is depleted in the under $1m ranges. Most homes listed over $1m are pushing into a balanced market. It may take longer to sell single family homes in this neighborhood than it does to sell townhomes or condos, but with average sales times at under 6 months these homes are moving rather quickly for the luxury market. The median sales price of single family homes was $1,381,250.

 

Price Range: $600,000-1,000,000 

Price Range: $1,000,000+

Start your Old Town 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!0

 

Terri Buseman

312-208-5166                               

Terri@TerriBuseman.com

www.TerriBuseman.com

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Comment balloon 0 commentsTerri Buseman • December 01 2017 09:53PM

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