Crib Chatter on Vacation This Week
It’s time for me to take some time off. I’ll be out all through next week but will be checking in from the beach.
The Chicago market remains robust with very low inventory in the GreenZone neighborhoods. However, in a few neighborhoods such as Lakeview, the properties seem to be staying on the market a bit longer and inventory has risen slightly.
Here’s the current inventory per Redfin:
- Lakeview: 241 homes (up about 50 properties from the lows)
- Lincoln Park: 187 homes (still near the lows)
- Bucktown: 64 homes (still near the lows)
- Wicker Park: 49 homes (still near the lows)
- West Loop: 174 homes (still near the lows)
- River North: 364 homes
- Streeterville: 354 homes
- Gold Coast: 231 homes
- Loop: 312 homes
- South Loop: 247 homes
Reminder: a new condo building like 850 N. Lake Shore Drive, has 198 units itself. These inventory levels in the downtown high-rise neighborhoods are extremely low.
The low inventory, especially in certain price points, should keep prices elevated.
I’ll see you on June 24.
Sabrina