Monday, March 11, 2013

Lincoln Park town house sales February 2013

We have been working with buyer clients looking for a large town house in Lincoln Park.  The market for quality properties has been very fast and competitive this year already.

Lincoln Park town house sales February 2013

9 town house style homes closed in the month of February (as recorded in, our local MLS).  The median price was just over $550,000.  This is up 6 closed units over 2012 which saw only 3 town houses close in February.
The town houses of Tamerlane on the 2700 block of North Greenview, Lincoln Park (Photo Eric Rojas, Broker)

The highest sale/ closing in February was for 430 West Armitage Unit A for $998,000.  The 4 bedrooms, 3.5 baths home at the popular The Point development is located in east Lincoln Park near the lake and has over 3300 sq/ ft of living space.  The lowest town house closing for the month was at 1443 West Wrightwood Unit B for $380,000.  This is located adjacent to popular Wrightwood Park and amongst and enclave several large town house developments and newer construction single family homes.
We looked at a new town house listing over the weekend at Parklane on the 2700 block of North Greenview. This popular town house development has large homes featuring 3 true bedrooms and two common living rooms. (Photo Eric Rojas, Broker)

Pending and contingent sales tell the story of this year's fast start.  There are currently 57 town homes under contract (contingent or pending closing).  The median price is about $575,000 for the under contract units.  That's a lot of town house units under contract before we even hit the traditionally busy spring market.