April Real Estate Market Report for West Town & Chicago

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The April real estate market was heating up in West Town along the the warm weather finally arriving in Chicago.  New listings in the West Town neighborhood increased 2.6% for detached homes and increased 14.6% for attached properties. Listings under contract decreased 3.1% for detached homes and increased 2.3% for attached properties.

The median sales price in West Town was $897,550 for detached homes and $456,000 for attached properties. Months supply of inventory for detached units is at 4.9 months and 2 months supply for attached units.

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Chicago Real Estate Report

New listings in the City of Chicago were down 22.5% for detached homes and down 44% for attached properties. Listings under contract decreased 35% for detached homes and decreased 45% for attached properties.

The Median Sales Price in the City of Chicago was $159,900 for detached homes and were $89,250 for attached properties. Months Supply of Inventory is 1.6 months for detached units and .7 months for attached units.

There still continues to be very low inventory in Chicago.  For sellers, this means it’s a great time to sell and for buyers they need to act quickly if they find a property that they love since there is a low supply of condos and houses. For buyers in the West Town neighborhood, there growing amount of inventory because the single family home supply is near 5 months.

Amy Pearson

Real Estate Broker

Baird & Warner – Gold Coast

amy.pearson@bairdwarner.com

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