Lincoln Park Real Estate Market Report, week of November 17, 2014

Lincoln Park (Chicago) IL Real Estate Market Report, week of November 17, 2014

18 homes sold in Lincoln Park, Chicago IL

There were 15 condos and 3 single family homes sold this past week in Lincoln Park, Chicago IL.

The average sales price for the condos sold this week was $474,179 with an average time on the market of 52 days.

The single family homes that sold for $989,000, $1,810,000 and $3,525,000 and had an average market time of 131 days.

Because these statistics are only for one week and for all of Lincoln Park, it may not tell you what is possible for a specific home.

These are just the general market statistics of what happened in the last week in Lincoln Park real estate.

Own a home in Lincoln Park? Find out what it’s worth here!

Least expensive home reported sold in Lincoln Park, Chicago

The least expensive home reported sold this past week in Lincoln Park was a 1 bedroom, 1 bath with 1100 sq ft in the 2000 block of N Lincoln Park West. It had parquet floors, white cabinet kitchen & a retro bath. Did I mention the building faces Lincoln Park?

It was sold for almost full price, $195,000, in 12 days. The building is pet-friendly full of amenties including a fitness center, doorman, dry cleaners & roof deck. The $675 monthly HOA fees include heat, gas, cable, and wi-fi internet. Due to the high rental rate in the building, the buyer needed to pay cash.

See other Lincoln Park bargains here!

Most expensive home reported sold in Lincoln Park, Chicago

The most expensive home reported sold this past week in Lincoln Park was a 2001 construction, 6400 sq ft single family home. It had recently been completely renovated and upgraded throughout and looked absolutely stunning! It had 5 bedrooms, 4 full baths and 2 half baths, den/home office, top of the line kitchen (in addition to the catering and outdoor kitchens), elevator, private yard & attached garage. It had been listed for $3.75M and sold for $3.525M in 9 days. Sounds like these buyers got a gorgeous house in a phenomenal neighborhood.

See other luxury Lincoln Park homes here!

Sold Deal Of The Week in Lincoln Park, Chicago

In my opinion, the best deal of the homes sold this past week was a 3 bedroom, 2 bath duplex-down in a vintage 1906 stone building. It had lots of charm and tons of potential to update. It sold for $340,000 after 4 months on the market with an original asking price of $399,000.

See other Lincoln Park condos here!

Foreclosures & Short Sales in Lincoln Park, Chicago

None of the homes sold this past week in Lincoln Park were short sales or foreclosures.

Today there is 1 foreclosed home for sale in Lincoln Park and no short sales listed in Lincoln Park, Chicago.

Inventory & Absorption Rate in Lincoln Park, Chicago

Today there are 32 single family homes for sale in Lincoln Park. If homes in Lincoln Park continue to sell at the same pace and no more homes hit the market, it will take 5 months to sell all the available homes. This statistic is for all homes in Lincoln Park and based only on this month’s activity. Most people consider a housing market healthy if there is a less than 6 months’ supply of inventory, so we’re in what is considered a Seller’s Market.

New Listings in Lincoln Park, Chicago

There were 11 new single family home listings to hit the MLS this week in Lincoln Park, ranging from $975,000-$8,694,000, as well as 35 new condo listings ranging from $179,000-$1,849,000 and 1 new multi-family listing priced at $849,000.

This Week’s Hot New Listing in Lincoln Square, Chicago

The best deal in my opinion of this week’s new condo listings is a 1BR/1BA loft with a private 20’ x 12’ patio, priced at $300,000. See all pics & details here!

The best deal in my opinion of this week’s new single family home listings is a 5 bedroom, 3.5 bath home sitting on a 43 foot wide lot. It was built in 1992 and it’s spacious, inside & out. See all pics & details here!

Looking Forward...

4 single family homes and 23 condos were reported as going Under Contract (contingent/pending) this past week in Lincoln Park. Currently there are 45 homes and 147 condos in total that are Under Contract in Lincoln Park.

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The Fine Print: This report covers what happened for the week ending November 17, 2014 based on info from the MRED LLC multiple listing service (MLS). As always, there may have been more closings that may not have been reported to MRED as of today’s posting as well as other closings that took place outside of the MLS. All data has been compiled from the MRED MLS by Laurie Christofano, Realtor with The Pych Team @ RE/MAX In The Village.