|A rare modern residential condo development at 1470 W Winona nabs a big $650,000 sale in Andersonville (all photos Eric Rojas, Kale Realty).|
|The Andersonville sales area roughly North Ashland to North Broadway and West Lawrence to West Bryn Mawr.|
Unit sales and median price recoiled slightly this year. 99 condo units (attached homes, town houses) sold in the Andersonville sales area shown above. The median price of a condo this year is about $345,000. Both unit sales and median price are down from 2016. The highest sale so far this year is $670,000 for a new construction condo at 4806 N Clark Unit 203. Five unit sales have topped $600,000 so far this year.
142 units sold over the same Jan 1st- Dec 1st period in 2016 with a median price a hefty $375,000. At the top end 10 units sold for over $600,000. From my analysis more higher-end new constructions units hit the market in 2016 than 2017 helping raise the median price. I also think we plateaued with re-sale prices by spring 2017. High asking prices slowed unit sales the rest of this year.
Things have changed quite a bit over the past 5 years. In 2012 about 64 condos sold in the highlighted sales area with a median price of $247,000. The highest condo sale was $485,000 with only five condo units selling over $400,000. The same period of 2011 saw 61 condo units sold with a median price of about $205,000. 11 months of 2016 unit sales (144) beat out 22 months over 2011-2012 combined (124).