Today a couple of my buyers had the inspection for the condo they are buying in Andersonville. When people ask me about the Andersonville real estate market it’s hard to answer them because there are so few sales in any given month. As shown below there are typically less than 5 houses and less than 15 condos and townhouses sold in Andersonville in any given month.
Andersonville Houses (blue) vs. Condos & Townhouses (red) Sold Monthly
With so few sales any one sale has a noticeable impact on the average or median sale price for that month. Thus, it’s hard to see meaningful recent price trends.
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Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at fran.bailey@bairdwarner.com or call 773.793.4516. Learn More
Fran Bailey, Realtor
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There are a lot of neighborhoods similiar to Andersonville in that there isn’t enough statistically significant data to support any given month or trend. The best way I usually approach this is by analyzing it over time, or adding in very similiarly priced neighborhoods to get a better gauge on what is exactly going on in the market.
Hi Josh,
If “by analyzing it over time” you mean looking at quarterly or annual data, I agree. I’m not sure about the benefits of “adding in very similarly priced neighborhoods”. It might give a gauge of a larger, similarly priced market, but it still wouldn’t tell me anything more about the Andersonville real estate market.