Lincoln Park Real Estate Market Conditions & Reports, Lincoln Park Market Trends, Illinois

Market Commentary Provided by Quentin Green II

Report Date

Fall 2009

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Quentin Green II
Sudler Sotheby
Chicago, Illinois
773-418-5359
quentin.green@sothebysrealty.com
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Nearest Metro Area

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

More than 120 days

Market Trend

Increasing

Housing Inventory

Good supply - Some Prices

Average Home Price

$850,000 - View Graph Trend

Best Selling Price Range

Worst Selling Price Range

Compared to Last Year

Down 15-20%

Prices As % of Asking Price

90-95%

Multiple Offers?

Greatest Activity

Repeat Buyers

Buyer Activity for the past 90 days in Lincoln Park is

Seller Activity for the past 90 days in Lincoln Park is

Is Financing Available For Qualified Buyers in Lincoln Park?

Existing Home Prices for the past 90 days are

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

Housing Hot Spots

Sellers continue to adjust prices downward. High end of the mkt was holding in there very well over the last 6 months but even that mkt is starting to see cracks. Foreclosures continue to depress condo mkt prices. I expect the mkt prices to retrace another 10 to 20 percent. Volume of closed properties,compared to last year, is off by 56%

Reason to Buy/Sell

Other

Average Sold Price

$850,000 - View Graph Trend

National Real Estate Market

National Summary: National Housing Market Recovery Near?

Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit

Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there.

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