Saturday, June 12, 2010

Chicago's Near South Side - Housing Market

The general boundaries of Chicago's Near South Side, Community Area #33 are Roosevelt Road on the north, Lake Shore Drive on the east, 26th Street on the south and an irregular line with the South Branch of the Chicago River at one point on the west.

The neighborhood is predominantly comprised of attached homes & condominiums.

The chart shows the market activity in the Near South Side of Chicago in the last 30 days based on information from the MRED MLS.

There are currently 1,101 active listings of attached homes & condominiums as of 06/11/2010.

The median list price is $402,500.00

In the last 30 days there have been 77 closed sales.

The median sales price was $330,000.00

At the current rate of absorption there are 14.29 months of unsold inventory in the Near South Side. This level of inventory is considered an over supply.

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