In part 1 I showed the elevated inventory of houses for sale in Edgewater vs. the declining inventory of condos for sale in Edgewater. As shown in the chart below, the median sale price for Edgewater houses in October was $495K, down 22% from October 2007.
Median Sale Prices for Edgewater Houses
Contrast that with the chart of Edgewater condo median sale prices below where median sale price for October was $209K, only down 4% from October 2007.
Median Sale Prices for Edgewater Condos
With so many Edgewater houses on the market now’s a great time to buy one! I recently helped a buyer negotiate over 9% off the list price of a very nice house for sale in Edgewater. The high inventory of houses for sale wasn’t the only reason I was able to help her save so much on the price, but it helped! For more in-depth Chicago Metro Area housing market analysis, sign-up for my monthly email update, “Maximizing Equity“.
ABOUT THE AUTHOR
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
