Chicago Market Report:
The 2 bedroom condo sales facts are in for Uptown.
The housing price ranged from $99,000 on the low end to $400,000 on the high end. The average sold price ($212,336) was close to the median sold price ($207,000). Two bedroom condos on average sold in 94 days and sold for 96% of their listing price.
The median and average sold prices are down from October 2015. The average days on market increased from 67 days in October 2015 to 94 days in November 2015.
In October 2015 there were 17 sales versus 132 active listings. In November 2015 there were 16 sales versus 101 active listing. The number of sales remained constant while active listings decreased.
The ratio of active listings versus the number of sales coupled with the increased marketing time emphasizes the importance of being listed at the right price as buyers have an abundance of condos to pick from going into the holiday season.
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