The number of listed Chicago 2 bedroom condos sold in August was up 36.6% from August 2011.* 702 such condos sold setting a 2 year high. The median sale price was up 3.2% at $258,000.
There were 3,740 Chicago 2 bedroom condos for sale in August down 42.2%. The inventory set a 2 year low.
Pending sales were up 60.3%, so sales should continue to do well in September. Average days on market was down 28.4%.
The increase in units sold was mainly driven by normal sales which were up 45.2%. Distressed sales (foreclosures and short sales) were up 20.6%.
Rising prices, sales and pending sales along with falling inventory and days on market all indicate that the market for Chicago 2 bedroom condos is stabilizing.
CHICAGO 2 BEDROOM CONDOS FOR SALE
Click below to see Chicago 2 bedroom condos for sale by price range.
|$3M & Above||$2M to $3M||$1.5M to $2M||$1M to $1.5M|
|$900K to $1M||$800K to $900K||$700K to $800K||$600K to $700K|
|$500K to $600K||$400K to $500K||$300K to $400K||$200K to $300K|
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*Statistics include co-ops, lofts, apartments and townhouses. Information is based on data from Midwest Real Estate Data (MRED).