Prairie District (Chicago, IL)
By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoWith condos priced under $800k selling faster than in our last report, at under a week, a seller who lists now might be able to squeak in a closing before the end of the year. It's a possibility, but not something to count on. There haven't been any changes among the higher priced condos and all of the condos that are available in these price ranges have a market time of over 30 days. Buyers are out and looking, but sellers need to make their home picture perfect and price it close to its value to attract the most attention. The median sales price for Prairie District condos was $305,000. Price Range: $400,000-$800,000Price Range: $800,000+Prairie DistrictHousing Type: TownhomeNew construction ...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoInventory is about as low as it was in our last report. Buyers have the easiest time in the $500-700k range where there are the most homes to choose from. Seller's should be aware that most homes are taking just a couple of months to sell. If a seller plans to move before the end of the year now is the time to list. The median sales price for Prairie District condos was $330,000. Price Range: $400,000-$800,000 Price Range: $800,000+Prairie DistrictHousing Type: TownhomeThe townlhomes that sold took longer than in our last report. Almost all of them were new construction. The resale home that closed took 144 days to sell and the two that are under contract have market times of 40 and 18 days. Ju...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoIn general, inventory has been declining among condos, since our last report. It looks like there is a spike in the $600-700k range, however, most of the homes that are listed have been listed for less than a month. The last sale in this price range was about three months ago. The homes that are under contract currently have market times of 13 days and 40 days. The month's supply of inventory could drop when these two homes close. The median sales price for Prairie District condos was $365,025. Price Range: $400,000-$800,000Price Range: $800,000+Prairie DistrictHousing Type: TownhomeThe townhome market has not slowed down a bit. Homes continue to sell in a matter of weeks. If you are ready to l...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoThe seller's market continues as inventory remains close to the same as last month. In general homes are selling very quickly. Even though in a seller's market prices go up it is still important to price your home for visibility. When a handful of buyers make an offer on a home it has a better chance of selling for over the asking price. See the chart at the bottom for information on how to price for visibility. The median sales price for Prairie District condos was $365,000. Price Range: $400,000-$800,000 Price Range: $800,000+Prairie DistrictHousing Type: TownhomeA few more homes came to the market, but the inventory levels are still very low, meaning there are more buyers looking for these h...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoWe are seeing a slight increase in sellers which, as we mentioned last month, tends to happen in the spring. The greatest increase was in the $400-500k range. However, the month's supply of inventory hardly changed in that category because so many listings went under contract very quickly. The average market time of those that closed was 47 days and of those under contract is 98 days. One of the condos that is under contract has a market time of 312 days. If you look at the average market time for the rest of them it is 56 days. Two months is a pretty short listing time, it looks like the seller's market is going to continue for awhile. The median sales price for Prairie District condos was $30...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoCondos in the Prairie District are still moving at a pretty steady pace, as we discussed last month. In the $400-500k range, where there were multiple closings, we can see it still took an average of 4 months for the homes to sell. As we predicted this pace is slowly pushing up the month's supply of inventory. In the spring months we usually see an increase in sellers. If that happens this year this market will stay on track towards balancing out. The median sales price for Prairie District condos was $378,500. Price Range: $400,000-$800,000Prairie DistrictHousing Type: TownhomeOver the past month 8 townhomes have come to the market. Most of the available townhomes are new construction. In fact...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Prairie District Neighborhood home search here. Prairie DistrictHousing Type: CondoThere hasn't been much activity since last month. The condo that was listed for over $1m has been temporarily taken off the market. We may see it return soon. Two condos went under contract and more came to the market. Average listing times for all price ranges are around 4 months. If this pace continues this neighborhood could be pushing a balanced market in the near future. The median sales price for Prairie District condos was $262,750. Price Range: $400,000-$800,000Prairie DistrictHousing Type: TownhomeWhile many homes are taking over 100 days to sell in this market it is not always the case. The home that went under contract in the $700-800k range was only on the market for 22 days. All of...
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