Here are the trends for last month in the Single Family, Townhome, and Condo markets across the near north and west neighborhoods.
The market continues to move quickly and well-priced homes are not staying on the market long with average market time down across various neighborhoods. Despite a decrease in available homes for sale, the average sale price has either remained stable or slightly increased in each area. Competition among buyers remains intense, particularly in certain price ranges. Multiple offers on properties have become increasingly common, with the National Association of Realtors reporting that nationwide, approximately one-third of properties are selling through multiple offer scenarios.
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The June Chicago Real Estate Market Update includes last month’s sales of Single Family Homes and Condominiums from April in Lincoln Park, Lakeview, Bucktown/Wicker Park, Logan Square, Gold Coast, Old Town, River North, and West Town.
This Chicago Market Update offers insight into trends, but every home is unique. If you are looking for a detailed look at your home’s value, we’re here for you.