February 2015 market analysis for the condominium market in the Near North Side of Chicago

Chicago appraiser Michael Walsh recently appraised a condominium in the Near North Side neighborhood of Chicago and shares his February 2015 market analysis in this presentation.

 According to MRED MLS statistics for the last twelve months for MLS area 8008 Near North Side, the median sales price for Attached Housing remained stable over the last year, average marketing time increased +1.2% to 84 days on the market, and there is currently a 4.6 month supply of inventory. This level is considered a oversupply. REO & Short Sales account for approximately 4% of total sales.