It was pretty damp as I ran my errands in Lincoln Park this morning. A check of recent median list prices of Lincoln Park 3 bedroom condos (and townhouses) for sale shows that sellers are dampening their expectations. As shown below, the median list price trend line (red) for Lincoln Park 3 bedroom condos for sale continues to gradually ease lower. The median sold price trend line (green) has been falling faster, but the drop has slowed over the past 3 months. Given that the past 3 months are winter months when prices are typically lower, this is even more positive news for sellers. However, Lincoln Park condo buyers don’t have to worry about rising prices anytime soon. Once interest rates start to rise and the tax credits expire at the end of April, I expect continued downward price pressure.
Lincoln Park 3 Bedroom Condo & Townhouse For Sale Vs. Sold Median Prices
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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
