Lincoln Square Real Estate Market Report, week of November 24, 2014

Lincoln Square (Chicago) IL Real Estate Market Report, week of November 24, 2014

14 homes sold in Lincoln Square, Chicago IL

There were 12 condos and 2 single family homes sold this past week in Lincoln Square, Chicago IL.

The average sales price for the condos sold this week was $348,000 with an average time on the market of 58 days.

The single family homes that sold had an average selling price of $515,000 and average market time of 26 days.

Because these statistics are only for one week and for all of Lincoln Square, 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 Square real estate.

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

Least expensive home reported sold in Lincoln Square, Chicago

The least expensive home reported sold this past week in Lincoln Square was a 3 bedroom, 1 bath vintage condo near Foster & Western.

It was sold for $148,200 (asking price $159,900) in just over a month. The building is pet-friendly, and the unit has hardwood floors, exposed brick, an updated kitchen with stainless appliances, and garage parking.

Most expensive home reported sold in Lincoln Square, Chicago

The most expensive home reported sold this past week in Lincoln Square was a new construction, 1750 sq foot penthouse condo with 3 bedrooms and 2 baths at Damen & Lawrence. The interior pictures look absolutely stunning with high-end designer finishes throughout.

It sold for full price, $580,000, in just 3 days on the market. Sounds like these buyers got a good deal in a great location walking distance to both Lincoln Square and Andersonville as well as Winnemac Park!

See other new construction homes here!

Sold Deal Of The Week in Lincoln Square, Chicago

In my opinion, the best deal of the homes sold this past week was a brick single family home with a detached coach house located in the 5000 block of north Francisco Ave. Priced aggressively at $450,000, it attracted many offers and ended up selling for $45,000 over asking price at $495,000!

See other Lincoln Square & Andersonville single family homes here!

Foreclosures & Short Sales in Lincoln Square, Chicago

One of the homes sold this past week in Lincoln Square was a short sale, and none were foreclosures.

Today there are 3 foreclosed homes for sale in Lincoln Square and 3 homes listed as a short sale in Lincoln Square, Chicago.

Inventory & Absorption Rate in Lincoln Square, Chicago

Today there are 39 single family homes for sale in Lincoln Square. If homes in Lincoln Square 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 Square 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 Square, Chicago

There was 1 new single family home listing to hit the MLS this week in Lincoln Square, priced at $399,900, as well as 5 new condo listings ranging from $134,900-$349,000.

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 2BR, 2BA vintage condo with in-unit laundry priced at $329,000. See all pics & details here!

The best deal in my opinion of this week’s new single family home listings is a gut-rehabbed 4,000 sq ft, 4 bedroom, 3.5 bath home in the heart of Lincoln Square. Originally built in 1896, this home has been renovated to modern standards including opening up the first floor layout to include a gorgeous open kitchen-family room, 2nd level with 3 bedrooms, 2 baths & laundry, and finished basement with a large rec / media room, 4th bedroom and full bath. It looks like no expenses were spared in completing this lovely home which is now being offered for $1.149M. See all pics & details here!

Looking Forward...

1 single family home and 8 condos were reported as going Under Contract (contingent/pending) this past week in Lincoln Square. Currently there are 13 homes, 47 condos, 9 multi-family buildings, and 1 vacant lot in total that are Under Contract in Lincoln Square.

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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.