Saturday, January 24, 2009

Chicago's Lincoln Park Condo & Townhome Buzz

Total condos and townhomes units sold in Chicago's Lincoln Park neighborhood were down 41% with 128 units sold in the fourth quarter compared with 218 units sold in 2007 (4Q). The median sales prices were slightly down 1% to $427,100 (from $432,500 in 2007 4Q) and the average condo and townhome prices were down 7% in 2008 to $443,146 compared with $478,738 in 2007. Average market time was up 10% to 115 days.

Listen to the local professionals and look at the real numbers when trying to make sense and have an understanding of your local real estate economy. Even these numbers cannot be read on face value. Drill downs are required!

For more information and a Chicago Home Buzz market report where this data will be available soon.


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