Wednesday, March 14, 2012

Andersonville condo sales...median price hugs 2007 prices?

The Andersonville neighborhood in greater Edgewater hugs the North Clark Street dining and retail mecca.  It's a great place to live too.  In general, condos have done okay in pricing over the turbulent years for this "far" north location. I've lived within a 10 minute walk of the heart of Andersonville (on and off) over the last 11 years and still can be amazed by how vibrant Clark Street is and how it always seems re-invented every year.

Here, I look at the Andersonville neighborhood using the the boundaries of Argyle to the south, (butting up to the cemetery), Edgewater to the north, Lakewood to the east and Ashland to the west. This puts you in quick walking distance from the center of Clark Street action.

In 2012 thus far, only 7 condos have closed in bustling Andersonville with a median price of about $270,000 (a small sample) In all of 2011, 44 condos sold within this Andersonville area for a median price of about $275,000.

In 2007, pretty much the peak of prices, 93 condos sold with a median of $290,000...only about $15K-20K more than 2011-2012. We usually see a larger disparity in median price from the top of the market until now. Actual unit sales are down about 50% from the top...which is on par with most popular neighborhood markets yet median price is close.

The top condo sale in 2007 was $569,000 for a brand new gray-stone rehab 3 beds, 2.5 bath duplex-down with a family room.   The top sale in 2011 was not too far off at $537,000 for a 3 beds, 3 baths duplex-down with a family room...also a newer rehab in a gray-stone.

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