Friday, September 06, 2013

Prices for condo's on Chicago's Near North Side are up +14%

Map of Chicago's Near North Side neighborhood
In a recent appraisal for a condominium on Chicago's Near North Side Citywide Services noted prices were up over the last year.

According to MRED MLS statistics for the last twelve months for MLS area 8008 Near North Side, the median sales price for Condominium Housing increased +14.6%, average marketing time declined -36.8% to 106 days on the market, and there is currently a 3.8 month supply of inventory. This level is considered in balance.  REO & Short Sales were approximately 12% of total sales in the last twelve months.

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