To understand the real estate market you need specific stats from your local neighborhood. Below I’ve combined the neighborhoods we work in to show you what’s happening in your market at a granular level. They include Gold Coast, River North, Streeterville, Lincoln Park, West Loop, and West Town. Every neighborhood tells a different story.
Read: If you want to know stats specific to your home like the average for the number of beds/baths or the amount of square footage click here and get on it right away.
60610 – Gold Coast / Old Town | Single-Family Homes
Below are the averages for detached single-family homes that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) is that the sales price is just below 1.6m and listings are closing at 90% of their original list price. The market time is 150 days. Closed sales are up 240% from the same time last year and price per square foot are remaining steady. Also staying steady is the month’s of supply homes at 19. This number is historically high. A healthy market is considered to be 6 months of supply. That is the breakdown of single-family homes in Chicago’s Gold Coast and Old Town neighborhoods for September of 2020.
60610 – Gold Coast / Old Town | Condos
Below are the averages for condos that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) is that the sales price is up 6% just below 520k and listings are closing at 95.5% of their original list price. The market time is 110 days. Closed sales are down less than 3% from the same time last year and the price per square foot has gone up 2.3%. On a steady incline is the month’s supply homes at 7.3 months. That’s 20% higher. That’s the most important stat to watch here. That is how Covid-19 is affecting this Chicago real estate market. A healthy market is considered to be 6 months of supply. That is the breakdown of condos in Chicago’s Gold Coast and Old Town neighborhoods for September of 2020.
60614 – Lincoln Park | Single-family
Below are the averages for detached single-family homes that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) is that the sales price is up 6% just below 520k and listings are closing at 95.5% of their original list price. The market time is 110 days. Closed sales are down less than 3% from the same time last year and the price per square foot has gone up 2.3%. On a steady incline is the month’s supply homes at 7.3 months. That’s 20% higher. That’s the most important stat to watch here. That is how Covid-19 is affecting this Chicago real estate market. A healthy market is considered to be 6 months of supply. That is the breakdown of the single-family sales in Chicago’s Lincoln Park neighborhood for September of 2020.
60614 – Lincoln Park | Condo
Below are the averages for detached condos that aren’t new construction, and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ): The sales price is the same as this time last year (486k) after a dip during COVID-19 that has balanced out. Listings are closing at 96% of their asking price. The average listing price is 567k. The market time is 85 days, a 22% increase from last year. Closed sales are down 6% from the same time last year and the price per square foot has gone down 5.2%. On a steady incline of 7% is the month’s supply homes at 4.6 months. A healthy market is considered to be 6 months of supply. That is the breakdown of condos in Chicago’s Lincoln Park neighborhood for September of 2020.
60611 – Streeterville | Condo
I was scared to do this one due to the press received in this area over the last 6 months. The results are surprising. Below are the averages for condos that aren’t new construction and are being sold by a homeowner in a conventional sale. There isn’t enough data for Single-family homes given less than 5 typically sell in a single month every year.
Below are the averages for detached condos that aren’t new construction, but are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ): Sales price is down 12% to 630k, down from 725k just 12 months ago. While that may be the case, the closings that are happening are closing at the same 95% of list price as they were last year, telling us that agents are pricing things correctly for the market and owners are realizing that adjustments need to be made. The market time is 160 days up 26% from the same time last year. Closed sales are down less than 30% from the same time last year and the price per square foot has gone up 1%. On a steady incline is the month’s supply homes at 11.3 months. That’s 36% higher than last year. That’s the most important stat to watch here. That is how Covid-19 is affecting this Chicago real estate market. 6 months of supply is considered to be a healthy market. That is the breakdown of condos in Chicago’s Streeterville neighborhood for September of 2020.
60607 – West Loop | Condos
Below are the averages for condos that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
60607 – River North | Condos
Below are the averages for condos that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) is that the sales price is up 7% just below 500k and listings are closing at 99% of their original list price. The market time is 100 days, only up 2% from last year. Closed sales are down than 5% from the same time last year and the price per square foot has gone up 1.3 to $384. On a steady incline is the month’s supply homes at 6 months. That’s 27% higher than last year. A healthy market is considered to be 6 months of supply. That is the breakdown of condos in Chicago’s River North neighborhood for September of 2020.
60607 – West Town (Ukrainian Village, East Village, Wicker Park, Noble Square, River West, Fulton Market, East Side of Humboldt Park)| Single-Family Homes
Below are the averages for detached single-family homes that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) Gains in the sale price fall flat at 966k with zero gains year after year. Home sare selling at 96% of their original listing price. Market time has decreased 15% to 86 days. Closed sales are down over 5% from the same time last year and the price per square foot has gone down 3.3% to $291. The month’s supply of homes has drastically decreased to 4 months. That’s 26% lower than a year ago. If you’re following all these neighborhoods you will see that homes are harder to find and condos are sitting, but NOT here. See the condos stats below. That is how Covid-19 is affecting this Chicago real estate market. A healthy market is considered to be 6 months of supply. That is the breakdown of condos in Chicago’s West Town neighborhood for September of 2020.
60607 – West Town (Ukrainian Village, East Village, Wicker Park, Noble Square, River West, Fulton Market, East Side of Humboldt Park)| Condos
Below are the averages for condos that aren’t new construction and are being sold by a homeowner in a conventional sale.
Final List Price as a Percentage of The Final Sales Price
Original List Price as a Percentage of Final Sales Price
Days on Market until under Contract
The digestible version (these are averages on a rolling 12 month ) Gains in the sale price grew 4.3% to 471k. Home sare selling at 98% of their original listing price. Market time is even at 57 days. Closed sales are up 5% from the same time last year and the price per square foot has gone up 2.4% to $302. The month’s supply of homes has gone down to 3 months. That’s 3.4% lower than a year ago. A healthy market is considered to be 6 months of supply. That is the breakdown of condos in Chicago’s West Town neighborhood for September of 2020.
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