Monday, September 15, 2014

Lincoln Park condo sales 2014: One, two, three bedrooms prices generally UP year to year

858 W Diversey Unit 3W (building pictured) is the first resale to hit the market for this newer construction build from 2010. Unit 3W is being offered for sale or rent, $949,900 or $7,250, respectively (not our listing). The highly upgraded duplex penthouse was originally purchased for $750K. Photo Bob DePalma, Broker, Kale Realty

Lincoln Park Condo Sales 2014 Jan 1st-Sept 12th

One Bedroom Condos:  152 one bedroom condos sold on the MLS from January 1st thru September 12th of this year.  The median price for a one bedroom this year is about $228,500.  167 one bedroom units were sold same period in 2013 for a median price of $200,000.

Two Bedrooms Condos: 392 Lincoln Park two bedrooms condos (this can include town houses) closed during the same period for a median price of $393,000.  The numbers were very close over the same period of 2013 with 382 units sold and a median of $385,000.

Three or more bedrooms (3+) condos:  333 attached units with three or more bedrooms closed from January 1st to September 12th.  The median price is a robust $660,000 (even 3 bedrooms only units had a median  $630,000).  354 attached units with three or more bedrooms sold over the same period in 2013 with a median price of $600,000

The lagoons in the Lincoln Park Community Area (Photo Eric Rojas, Kale Realty

We saw great demand for larger attached homes in great locations increase from 2012 to 2013 and again in early 2014 (as single family home prices went up and inventory shrank).  Buyers were also more readily willing to pay a higher premium (as a percentage of square footage) on newer finished attached homes with many luxuries than older single family homes that needed updating.

Sales stats gathered and interpreted by Eric Rojas, Broker, Kale Realty using To sell, but or rent property in the Lincoln Park area please contact us.

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