July 29, 2008

Rogers Park condo sales plunge during second quarter

Category: Rogers Park. Posted by Mike at 2:57 pm.

Sales of condominiums and lofts fell sharply during the second quarter in Rogers Park. According to data from the MLS for the period, sales were off nearly 50 percent from the same period last year.

A total of 126 units were sold during the second quarter in Rogers Park, down from 235 units sold during the same period in 2007. It was a 46 percent drop in sales for the quarter. Meanwhile, sales of the smallest units were off even more. A total of just 19 one-bedroom condominiums were sold during the second quarter, a 51 percent drop in sales in just one year.

Sales of the largest condominiums were down 35 percent. A total of 33 units with three or more bedrooms were sold during the quarter in Rogers Park.

Meanwhile, buyers are starting to see lower prices in the neighborhood. The average sales price fell to $223,299, down 6 percent from the same period last year. Buyers could continue to see even lower prices for condominiums and lofts in Rogers Park as sellers compete for fewer interested buyers.

Keep an eye out for great deals on Chicago Condos For Sale around the area, as well as in many other neighborhoods across Chicago.

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July 28, 2008

230 E Ontario offers two affordable condos for sale

Category: River North. Posted by Mike at 1:25 pm.

If you’re looking for an affordable condominium in Streeterville, you can find some of the best deals in older buildings around the neighborhood. One development that is currently offering two units for sale is located at 230 E Ontario.

This condominium development was completed in 1969, and is home to 144 luxury units. The most affordable condo on the market at 230 E Ontario is a one-bedroom and one-bath unit that offers a total of 650 square feet of living space. This condo is priced at $203,000.

Another affordable opportunity currently on the market at 230 E Ontario is a one-bedroom and one-bath condominium that has a total of 875 square feet of living space. This condo is priced at $237,900.

Amenities at 230 E Ontario include a 24-hour doorman, modern fitness center, laundry room, and party room. There is no parking here, which could keep some buyers away. However, the neighborhood has plenty of garages to choose from, with reasonable prices. The sundeck, however, is a great addition here, offering an outdoor pool and incredible urban views.

These condominiums are a great choice for buyers looking for an affordable Chicago Condo For Sale in Streeterville.

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July 25, 2008

Sales down 31 percent during the second quarter in Chicago

Category: Affordable condos, Downtown Condos. Posted by Mike at 4:16 pm.

Sales of condominiums and lofts were off by nearly 31 percent during the second quarter across the city of Chicago, as many buyers face difficulty qualifying for a loan. Banks and lenders have tightened requirements in recent months after foreclosures spiked around the nation.

According to data from the MLS for the quarter, a total of 4,658 units were sold during the period, down from 6,748 units sold during the same period last year. It was one of the worst showings for the second quarter since the beginning of the decade. A total of 7,098 condos were sold during the second quarter 2006.

Prices, however, went the other direction as buyers focus on the most expensive units on the market in Chicago. Strong sales of luxury units in downtown and the Near North Side led to a 15 percent increase in the average sales price during the second quarter. However, prices for more affordable units could start to come down around the neighborhood as there are fewer buyers on the market for these types of condominiums.

Buyers, keep a sharp eye out for great deals on Chicago Condos For Sale around the greater Chicagoland region.

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