This afternoon I showed 3 bedroom 2 bath condos and townhouses in Lakeview. As shown below by the green and black dashed lines the median sale prices for these 3 bedroom 2 bath homes for the past year fell from $507,500 to $477,500, a drop of 5.9%.
Distribution of sale prices for Lakeview 3 bedroom 2 bath condos and townhouses past year vs. prior year
The distribution of prices didn’t change much, just the number of sales. The green bars showing the sales for this past year form a distribution very similar to sales for the prior year shown by the black outline bars. There were just less sales in most price ranges. In both years the highest number of sales was in the $400K to $500K price range.
The inventory of 3 bedroom 2 bath condos and townhouses for sale in Lakeview hit a 2 year low in December at 244 and was down 11% from December 2008. The median price in December of $469K was actually up 2% from December 2008.
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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
