Spaces With Eva Bergant July 31st, 2012

By chicago-pipeline at July 31, 2012 | 3:45 pm | Print

With decreasing market times, it’s more important than ever that buyers are able to present strong offers. These would include having selected your lender and the ability to show the seller a letter that you’re pre-approved for the loan needed to purchase the property. This also should support the buyer’s ability to provide a down payment and the earnest money for the offer presented. The strongest offers do not have contingencies, beyond the traditional inspection, attorney and if needed financing required.

Decreased market times also indicate the need to move quickly if the property is of interest! Multiple offers are occurring this summer on properties that have value based list prices. The number of units (houses and condos) on the market in the greater area of West Town and Logan Square is down 42% in June 2012 from June 2011, and the number sold is up 50%. Keep in mind that sales are usually highest in June, and the number of sales is seasonally lower through the fall and winter in Chicago. We’ll see how this market continues. Interest rates are still low, and qualified buyers have a great opportunity.

There were an impressive 17 closings in Wicker Park and Bucktown over the past two weeks: (5) Detached single family houses, (11) Attached condos. bedroom 1 2-4 unit buildings, as follows:

 

5 Sold - Detached Single

1907 W Dickens 3 bedroom 2.1 bath 2 Stories 9 days on market $605,000

1614 W Wabansia 4 bedroom 3.1 bath 2 Stories $670,000

2023 W Cortland 3 bedroom 2.1 bath 3 Stories $737,250

2138 W Schiller 5 bedroom 3.1 bath 3 Stories $950,000 – PICTURED

1912 W Cortland 4 bedroom 4.1 bath 3 Stories $1,025,000

 

11 Sold – Attached Single

2037 W North #2 2 bedroom 1 bath S/2 Condo $156,000 (Foreclosure)

2307 N Leavitt #2 2 bedroom 2 bath G/1 Condo 36 days on market 97% of list price $291,000 - 

1259 N Wood #102 2 bedroom 1.1 bath S/1, Condo-Loft, $320,000

1955 N Leavitt #3D 2 bedroom 2 bath G/1 Condo, 10 days on market, 96% of list price $337,000

1438 N Leavitt #2 2 bedroom 2 bath G/1 Condo 67 days, 97% of list $341,000- PICTURED (next to elementary school) 

1630 N Bell #1 3 bedroom 3 bath G/1 Duplex, Condo 57 days, 97% of list $422,000

2118 W Schiller #1 3 bedroom 2 bath S/1 Condo 180 days, 95% of list $428,000 - PICTURED

1746 W Pierce #1 3 bedroom 2.1 bath G/1 Condo $435,000

1767 N Hoyne #F 2 bedroom 2.1 bath G/2 Townhouse-TriLevel 57 days 97% of list $497,000

1214 N Wood #102 3 bedroom 2 bath G/1 Duplex, Condo $545,000

2219 W Wabansia #3 3 bedroom 2 bath G/1 Condo, $649,000

 

1 Sold – Two to Four Units

2217 N Leavitt 2 units for rental until rehab or tear down $329,000

 

Quick take –

What’s on the market now? List Prices – High Low Average Median

 

57 Active – Detached Single Statistics

$4,400,000 $259,000 $1,236,007 $835,000

 

114 Active – Attached Single Statistics

$749,900 $139,000 $407,803 $395,750

 

20 Active – Two to Four Units

$899,000 $270,000 $587,315 $599,450

 

*** Information sourced from MREDLLC; 7/31/12. Residential properties – Bucktown (Ashland, Western, Fullerton, North) and WickerPark (Ashland, Western, North, Division)

Eva Bergant is a Bucktown resident and local Realtor with a community driven style. In addition to being president of the Bucktown Community Organization (BCO), Eva has long served as the chair of the Bucktown Garden Walk. Do you have a real estate topic that you’d like explored in a future column, or a question about buying or selling a home? You can reach Eva by email, or 312-543-6819.

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