Condominium statistics for January 2015 in the Uptown community area of Chicago

Chicago appraiser Michael Walsh recently performed a condominium appraisal in the Uptown neighborhood of Chicago and shares his market analysis in this video.

 According to MRED MLS statistics for the last twelve months for MLS area 8003 Uptown, the median sales price for Attached  Housing increased +3.4%, average marketing time declined -7.6% to 85 days on the market, and there is currently a 4.9 month supply of inventory. This level is considered a oversupply. REO and Short Sales account for approximately 17% of total sales.