Condominium prices on the Near West Side of Chicago

Chicago appraiser Michael Walsh recently appraised a condominium on the Near West Side and shares his market analysis in this video

According to MRED MLS statistics for the last twelve months for MLS area 8028 Near West Side, the median sales price for Condominium  Housing increased +9.1%, average marketing time declined -11.5% to 54 days on the market, and there is currently a 2.5 month supply of inventory. This level is a shortage of inventory. REO & Short Sales account for approximately 12% of total sales.