Chicago 2 bedroom condo prices & sales up in August!

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.

Chicago 2 Bedroom Condo Sales August 2010 - August 2012

Chicago 2 Bedroom Condo Sales August 2010 - August 2012

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).

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ABOUT THE AUTHOR

Fran Bailey Fran Bailey is a Realtor who has been quoted in numerous Chicago and national publications. To schedule showings for any listings, get a free market analysis for your home or to contact Fran email her at fran.bailey@bairdwarner.com or call 773-793-4516. Learn More