Prices for 3 bedroom condos for sale in Chicago’s Loop may start around $300,000, but over half of them are priced above $1,200,000. In 2012 the median sale price was $912,500. In 2011 and 2010 it was $656,000 and $1,021,998.
The inventory of listed Chicago 3 bedroom condos for sale continues to plummet. There were 3,053 3 bedroom condos for sale in Chicago in the second quarter down 18.5% from second quarter 2012 when there were 3,745 3 bedroom condos for sale.
Prices for 3 bedroom condos for sale in Chicago are as varied as Chicago’s neighborhoods. Here are 2012 median sale prices for a few areas:
The inventory of listed Chicago 3 bedroom condos for sale in the 4th quarter was down 31.9% from 4th quarter 2011. There were 2,535 such condos for sale compared to 3,724 a year earlier.
The inventory of listed Chicago Loop 3 bedroom condos for sale in August was down 39% from August 2011. There were 65 such condos for sale setting a new 2 year low.
A year ago some clients of mine were looking for a 3 bedroom condo priced between $1,000,000 and $1,500,000 in Streeterville, River North or the Gold Coast. They weren’t able to find what they wanted for a price they were willing to pay, so they decided to rent for a year. Now they’re finding fewer choices. Here’s the reason why.
The number of listed 3 bedroom condos sold in the 60611 zip code has been trending up for the past 3 years.* 60611 includes Streeterville, River North east of State and the Gold Coast south of Division.
Yesterday I showed 3 bedroom condos in the Andersonville neighborhood in Edgewater. The highest price any 3 bedroom condo in Andersonville has sold for in the past 6 months is $490,000. It was a 3 bedroom 3 bath duplex unit with aÂ 2 car garage. The highest sale price for a 3 bedroom 2 bath simplex […]