Tuesday, June 22, 2010

Statistics: Lake View 2010 second quater condo sales to smash 2009

Buyers snatched up Lake View condos like 3231 N Clifton below, now offered at $439,000.

2010 second quarter Lake View closed condo sales are on pace to crush 2009 unit sales with only 8 days left in June. In Q2 2009, 354 attached homes were closed. Already, we have 452 closed units in 2010 second quarter. What's more, 213 attached homes are under contract with many of those slated to close prior to the original June 30th closing deadline to qualify for the $8,000 first time buyers' credit. The numbers will approach the 2008 pre-bank crash closings of 596. The most closed units for second quarter in the last 20 years was 899 sold in 2005.

Other Lake View notes:
The lowest sale was $73,000 at 611 W Patterson #213 (a studio condo).

The highest sale was $2,300,000.00 at 3030 N Lake Shore Drive PH 401 (a four bed with den, study, huge terraces, lake views yadda, yadda).

The second highest sale was a bargain for $935,000 at 635 W Briar 4PH (a three bed duplex penthouse with den, family room yadda, yadda).

The top 70 priced condos were conventional sales. The first short sale appears at the 71st priced home at $477,000.

28 Lake View closings (6%) were distressed properties (foreclosure or short-sale). Most of those were priced well under $200,000.

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