Thursday, July 30, 2015

Buy a condo and fresh produce in Andersonville

We swung by the Wednesday Farmers Market in Andersonville last evening after showings.
Andersonville Condo Sales January 1st to July 28th, 2015
126 condo attached units (condos, town houses) have sold in the greater Andersonville neighborhood area this year.  The median price of an attached unit is a reasonable $265,000.  Over same period of 2014, 126 attached units sold as well with a median price of $287,500.  It's rare this year to see a popular geographic area in the city have a lower median price than the previous year.  However, new construction town house sales (along with some new Clark Street condos) propped up prices last year.

The highest sale this year is 1740 West Catalpa, Chicago IL, 60640 Unit 1W for $625,000.  Unit 1E also sold for $625,000. The four bedrooms "duplex-down" condo represents fairly rare new construction on a residential side street. Most new condo units are built long commercial/ arterial streets in the area.

The lower end of sales (even under $100,000) tend to be one and two bedrooms condo units in larger vintage converted buildings in the far north of the sales area.  It's an affordable way to live in a walkable neighborhood close to transportation.

I use the above sales area for year to year comparisons. The Andersonville neighborhood is a huge draw for a diverse population looking for terrific urban living on leafy streets.

For sale and under contract
There are about 52 attached units are listed for sale in the great Andersonville sales area with a median asking price of $262,000.  60 attached units are currently under contract with a median asking price of $325,000.  It looks like buyers are dishing out for the higher priced, nicer units rather than than the lower-end of the market.

All sales stats from gathered from and interpreted by Eric Rojas, Broker, Kale Realty.

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