The inventory of listed Lakeview real estate for sale continues to drop. There were 1,349 Lakeview houses, condos, townhouses and co-op apartments for sale in the third quarter down 30% from third quarter 2011 when there were 1,926 such homes for sale.
As shown below the inventory of Chicago’s Lakeview real estate for sale has set a quarterly 4 year low.
The median sale price dropped 11.3% to $328,250. The number of closed sales was up 33%. The average days on market for pending sales was down 19%. Pending sales were up 60%.
WHAT THIS MEANS FOR LAKEVIEW REAL ESTATE BUYERS
It’s still a buyer’s market, but you don’t have nearly the choices that you had a year ago. You won’t be able to negotiate as much since there aren’t as many sellers competing against each other.
WHAT THIS MEANS FOR LAKEVIEW REAL ESTATE SELLERS
Given that the market appears to be forming a bottom, I don’t recommend selling unless 1. you really need to or 2. you want to move up to a more expensive home (It’s probably come down more in value in the past few years than your current home.) As always, if your home is priced right when it goes on market, it will sell in a reasonable amount of time.
Email Mary Kaye for more information on Lakeview real estate for sale.
CHICAGO LAKEVIEW REAL ESTATE FOR SALE
Click below to see the Lakeview real estate for sale in your desired price range. Pending sales are excluded.
|$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|