|Views from the West Loop (All photos Eric Rojas, Broker, Kale Realty)|
Near West Condo Sales 2020
The affects of the coronavirus took hold in April 2020. Near West units sales were way down from a typical April. 110 units closed in April 2019. Just 66 units closed in April 2020. Unit sales were looking good in the First Quarter of the year (January through March). 214 units closed First Quarter in 2020 with a median price of $351,750. 201 units closed in First Quarter 2019 for Near North with a median price of $420,000.
January 2020, 45 condo units closed down 5 units from January 2019
February 2020, 53 units closed up 9 units from February 2019
March 2020, 85 units closed up 10 units from March 2019
April 2020, 66 units closed DOWN 44 units from April 2019.
My guess is we'll see unit sales down near 50% this year around Chicago. Anecdotally speaking, several units I've showed clients over the past two weeks did go under contract without a price reduction.
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