Thursday, June 12, 2014

Lincoln Square condo unit sales down, asking prices up

I evaluated a potential new Lincoln Square condo listing last week.  We price homes based on the specific unit and the goals of the seller.  However, here's an overview of general Lincoln Square condo sales activity so far this year.  Like many areas on the north side inventory is lower and asking prices are up.

New construction made the scene in Lincoln Square this year (ALL Photos Eric Rojas, Broker, Kale Realty)

Lincoln Square condo sales January 1st to June 11th, 2014
98 condos (including attached town houses) have closed this year Jan 1st through June 11th.  The median price of a condo is $225,000.  129 condos closed over the same period in 2013 with a median price about $230,000.

The condo market has been good for Lincoln Square sellers.  Buyers have seen new construction make it's biggest showing in many years.  Several multi-unit higher-end condo buildings have either been completed this year or have current pending units under contract while under construction.

East of Western Avenue
A common request we get from Lincoln Square buyer clients is "I want a condo east of Western Avenue".  These tend to be closer to downtown and feature locations with lots of amenities/ entertainment.  33 units closed east of Western Avenue over this period with  median price of $227,000.  The highest sale was $605,000.

The price jumps for three bedroom condos east of Western Avenue.  The median price is $429,000.

Out and about in "the Square"!

Lincoln Square closed units same period  2009-2013
129 closed units in 2013
114 closed units in 2012
111 closed units in 2011
136 closed units in 2010
90 closed units in 2009

Under Contract, Available
As we speak there are 109 attached condos under contract.  The median asking price of under contract homes is $315,000.  100 condos are actively listed for sale. 

Call us to buy or sell your next Lincoln Square condo!  

Market stats gathered gathered from evaluation and opinion Eric Rojas!

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