The inventory of listed River North condos for sale continues to plummet.* There were 176 condos for sale in River North in February down 49% from February 2012 when there were 344 condos for sale!
Recently, I wrote about how the inventory of River North condos for sale was down 47% in October. The inventory is down 79% from February 2009 when there were 856 condos for sale in the River North. As shown below the condo inventory keeps setting 5 year lows.
The median sale price rose 8% to $299,000. The average sale price as a percent of original sale price was 95.5% up from 92.8%. The number of closed sales was up 37%. Pending sales were up 63%. The average days on market for pending sales was down 57%.
WHAT THIS MEANS FOR RIVER NORTH CONDO BUYERS
The buyers market is over. If you will be financing your purchase, get your mortgage pre-approval before you start touring condos.
WHAT THIS MEANS FOR RIVER NORTH CONDO SELLERS
Don’t expect that you’ll get more for your condo now. It’s not a sellers market yet. As always, if your condo is priced right when it goes on market, it will sell in a reasonable amount of time.
RIVER NORTH CONDOS FOR SALE
Click below to see the River North condos for sale in your desired price range.
| $3M+ | $2M - $3M | $1.5M - $2M | $1M - $1.5M |
| $900K - $1M | $800K - $900K | $700K - $800K | $600K - $700K |
| $500K - $600K | $400K - $500K | $300K - $400K | $200K - $300K |
QUESTIONS?
Call Fran at 773-793-4516, text or email
*Statistics include co-ops, lofts, apartments and townhouses. Information is based on data from Midwest Real Estate Data (MRED).
Fran Bailey specializes in downtown Chicago, Lincoln Park and Lake View condos, co-op apartments and houses. She has shared home buying and selling advice since 2006 and written about over 130 Chicago high rises. To schedule showings for any listings, get a 
