Monday, August 12, 2013

Lincoln Square condo unit sales up 18%, prices up in 2013

Bob and I were getting top dollar for our Lincoln Square condo listings when it wasn't in vogue to buy or sell over the last few years LOL.  Can I still use LOL?  Anyway, let's look at Lincoln Square condo sales now that things have been hot hot hot for awhile.

Photo Eric Rojas

Lincoln Square condo sales for 2013 (Jan 1st to August 11th)

196 condos have closed to date in Lincoln Square in 2013, up from 165 (18%) sold same period 2012. The median price is a mere $240,000. That's also up a bit from $220,000 last year (and a good $100K less than the neighboring Community Areas of Northcenter and Lakeview). 

Median price in Lincoln Square is a little deceiving.  The top shelf locations sell for dramatically more than the further northwest locations in the Lincoln Square Community Area.  In Lakeview and Lincoln Park for example top tier condo prices are fairly spread out amongst the entire Community Areas.  There is also a less diverse condo product in Lincoln Square than in Lakeview or Lincoln Park.

The vast majority of condos in Lincoln Square are 2 beds, 1 baths in vintage converted buildings.

Sales statistics gathered from and analyzed by Eric Rojas, Real Estate Broker.

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