Chicago Is a Condo Town

March 31, 2010

Daily Real Estate Updates

sudler-sothebys-logo31 March 2010 ? There is no doubt about it, Chicago is a condo kind of town. With an estimated 260,000 condo units in approximately 12,000 buildings, Chicago ranks as the nation?s 3rd largest condo market.
2009 saw 10,070 condo units sold, which is a 20% decrease compared to the 12,596 units sold in 2008.

Over the last two weeks, the following neighborhoods were featured: Lincoln Park, Lakeview, Gold Coast, Lincoln Square, North Center, Logan Square. This week, we look at a few more for comparison:

Edgewater: 528 condos sold in 2009 with an average median sale price of $205,500 ( a 9% decrease compared to the 2008 median sale price)

The Loop: 632 condos sold with a median sale price of $345k (a 13% decrease compared to 2008)

South Loop / Bronzeville: 312 condos sold with a median sale price of $311,288 ( this represents a 6% decrease compared to 2008)

Next week we?ll compare the YTD number of sales, market times, and total sales volume for the first quarter of 2009 to 2010.

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About Nancy Gaspadarek

With over nine years in the Chicago real estate market, Nancy continues to enjoy the momentous and exciting process of helping her clients buy and sell homes. Nancy believes that the relationships & friendships that she has developed over the years are priceless. In 2007 she made the decision to partner with Catherine Brennan and the two are collectively known in the industry as The G and B Team. ?It was the best move I could have made?, Nancy says, ?Having a knowledgeable and reliable business partner to counter balance your strengths and have a shared passion to provide top notch service and expertise to all our clients is such a blessing.? Nancy graduated from Florida State University in Tallahassee, where she received a four year scholarship and was the captain of the woman's volleyball team for four years. Nancy has lived in downtown Chicago for over 14-years in a variety of neighborhoods. Her free time is usually spent playing tennis, golf & running/biking along the lakefront. She participated in the 1998 Chicago Marathon and has competed in a number of triathlons as well. She volunteers with The Friends of Blaine School in Lakeview, as well as Umoja Student Development and loves to travel as much as possible. You can contact Nancy at 773.259.9353 or gandbteam.com

View all posts by Nancy Gaspadarek

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