31 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.
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.Email This Post To a Friend.