Friday, March 27, 2020

West Ridge condo median price dips a little 1st Quarter 2020

Our most recent West Ridge listing is at 6015 N Mozart Unit 102, Chicago IL 60659 in the West Ridge neighborhood.
We have a listing back on the market in the West Ridge Community Area of the North Side. The first time we listed the unit we had lots of showings and multiple offers in the first week. Unluckily those buyers backed out due to the current virus outbreak situation.  The market has been climbing in West Ridge and the demand for nice condos in stable buildings is strong. Those priced out of Lincoln Square and/or Edgewater are turning to West Ridge to be close to amenities like parks, grocery stores, restaurants and services for less money.

West Ridge attached unit sales (condo/ townhouse)
Sixty attached units have sold from January 1st to March 26th, 2020. The median price of a sold condo is about $126,000. Median price is down about $10,000 from same period in 2019. Condos in the southeastern portion of the West Ridge Community Area tend to sell for more than in the northwest portion of the area. Since 2016 median price is up over the same period about $20,000.

Over the same period of 2019 sixty-four attached units sold with a median price of about $138,500.
Over same period of 2018 sixty-five attached units sold with a median price of about $135,000.
Going back to 2016 sixty-six units sold for a median price of only $105,000.

398 total attached units sold over 2016 with a median price of about $110,000. Three years later in 2019 about 345 attached units sold overall with a median price of about $145,000. Median price climbed about 31%

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