Downtown Chicago condos median sale price up 8.4% in 3rd quarter!

The median sale price of listed downtown Chicago condos sold in the 3rd quarter of 2012 was up 8.4% compared to a year earlier.* The median sale price was $340,000 compared to $313,750 in the 3rd quarter of 2011.

In the 2nd quarter the median sale price of downtown Chicago condos was up 4.2%. It was the first year over year rise since 3rd quarter 2010.

Quarterly Downtown Chicago Condos Median Sale Price 3rd Qtr 2009 - 2012

Quarterly Downtown Chicago Condos Median Sale Price 3rd Qtr 2009 - 2012

The inventory of downtown Chicago condos for sale in the 3rd quarter was down 31.0%. The number of sales were up 29.0%. Pending sales were up 30.7%, so sales should do well this quarter.

Rising median sale prices and sales along with falling inventories is further evidence that the downtown Chicago condo market is stabilizing. It’s still a buyers market, but not nearly like it was for the past few years.

DOWNTOWN CHICAGO CONDOS FOR SALE

Click below to see the downtown Chicago condos for sale in your desired 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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* includes co-ops and townhouses

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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

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