April Market Update

Lincoln Park/ Old Town (60614):

Condos: Seller’s market across the board for all price ranges. The upper quartiles in this market were favoring buyers a few months ago, but this has now officially flipped into a seller’s market for a couple of months now.
SFH: Still a seller’s market in the lower quartile up to 2M. 2M-3.2M is now in a balanced market for the second month. Homes over 3.2M in the upper quartiles are sitting right around 7 months of inventory giving the edge to buyers. We saw inventory in these price brackets jump to 9 months the prior month, so seeing strong demand in these upper price points.

Lakeview (60657)

Condos: Seller’s market across the board for all price ranges. This is just a savagely unhealthy market for buyer’s. This market for all price ranges is sitting at 1.4 months of inventory, which is up from last month.

SFH: Seller’s market for all quartiles. Continuing to see inventory grow in the top quartile above 2.5M, which is showing signs of a fairly balanced market.

West Loop (60607)

Condos: Strong seller’s market for all quartiles except the upper quartile. This market has been improving throughout the year. Overall, inventory is sitting at 2 months, while the upper quartile above 1.2M is hovering around 8 months. Very good deals to be had here once you get above 1.5M
SFH: Not enough data

West Town/Wicker/East Humboldt (60622)

Condos: Seller’s market for all price points except the absolute upper quartile. Total inventory sitting at 1.5 months. Slight buyer’s market above 1M. This is right up there with Lakeview and Logan.
SFH: Seller’s market for the all quartiles up to 2.25M. Slight edge to buyers above 2.25M in the upper quartile. This was a seller’s market last month.

Logan/Buck (60647 and 60642)

Condo: Seller’s market across the board. What else is new here… This has consistently been one of the worst buyer’s markets all year. Logan Square is having a hell of a year so far.
SFH: Seller’s market in all quartiles except the upper quartile over 1.7M. Buyer’s market North of 1.7M.

South Loop (60605)

Condos: This market was previously showing mixed signals, but it is now a firm seller’s market in all price points. We are also seeing noticeable rent growth in this area. I handle the leasing of around 100 properties in this zip, and we are getting higher rents for units now than we ever did in the past.
SFH: Not enough data

Loop/LakeShore East

Condos: Lower quartile 650k and under is a slight seller’s market. Oddly enough, we are seeing a stronger buyer’s market in the 650k-1.2M (7.2 months of inventory) range versus 1.2M (4.8 months) and up with. This is very rare.
SFH: Not enough data.

River North

Condos: Slight seller’s market sub 550k in the lower quartiles. The higher the price point, the more favorable the market for buyers. Severe buyer’s market 1M and higher.
SFH: Not enough data

Streeterville

Condos: Lower quartile under 375k favor’s the seller slightly. Buyer’s market in all upper quartiles above 375k. Absolute upper quartile is the most severe buyer’s market in all of Chicago. It has been this way all year, and it is not improving. 25 months of inventory above 1.7M…
SFH: Not enough data

Gold Coast

Condos: Condos: Lower quartiles 550k and under favors the seller. The upper/middle quartile up to 1.2M has shifted to a more balanced market. The upper quartile above 1.2M is still a buyer’s market, but this market is improving MOM.
SFH: This market has gotten worse over the past few years, and it is not improving. Market inventory is growing here. Although the market is fairly balanced up to 1.6M, nothing is really selling here. The upper middle quartile between 3M and 5M is the strongest buyer’s market.

Beverly/Morgan Park