Today I started searching for a 2 bedroom condo in the Loop, Near North Side, Near West Side and Near South Side for a couple who will be relocating here from Colorado.
Median sale prices for 2 bedroom condos in 3 of the 4 areas are up for the past 3 months compared to a year ago.* The Near South Side had the largest increase up 12%. The Near North Side was up 4.4% followed by the Loop up 1%. The median sale price for a 2 bedroom condo in the Near West Side dropped 4.5%.
The number of 2 bedroom units sold dropped significantly in 3 of the 4 areas, an average of 45%! Unit sales actually rose 10% in the Near South Side.
The Loop has the highest median sale price for 2 bedroom condos of the 4 areas at $510K, followed by the Near North Side at $475K. The Near South Side and Near West Side are more affordable at $429K and $343K median sale prices.
*Based on Midwest Real Estate Data LLC (MRED) Data.
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Sharon