Museum Park at Central Station (Chicago, IL)
By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoMost of the condos in Museum Park continue to enjoy the seller's market we have been watching. There has been a spike in the month's supply of inventory among the $700-800k homes. They just simply aren't selling as fast and they have among the most on the market. The one that is under contract has a market time of 86 days and the ones that are still available have an average market time of 100 days. Half of those have been on the market for over 4 months. If you are selling in this price range be very aware of your competition and do what you can to stay ahead. Pricing your home at market value can help you get the edge you need. See the chart below to learn more about how months ...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoJust like we noted last month the condo market in Museum Park is pretty steady. Market times are averaging 1.5-2.5 months. Condos are still in a seller's market and if this rate continues we can expect that to last through the year. The median sales price for condos in Museum Park was a little higher at $525,000. Price Range: $400,000-$800,000Price Range: $800,000+ Museum Park at Central StationHousing Type: TownhomeTownhomes have nearly sold out in every price range except for the $1-2m homes. The 5 homes that are available in this price range are between 3100-3800 sf and have 3 or 4 bedrooms. The asking prices range from $1,050,000 to $1,295,000, so there is a lot of overlap in ...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoThe condo market in Museum Park has been holding steady since our last report. The seller's market continues and homes are taking about 100 days to sell. There haven't been significant changes in inventory levels or market times, so it's likely that the seller's market will continue through the fall season. The median sales price for condos in Museum Park was $485,000. Price Range: $400,000-$800,000Price Range: $800,000+ Museum Park at Central StationHousing Type: TownhomeAlthough one townhome took 315 days to sell the average market time for those that are under contract is only 39 days. Currently, the longest of the active listings has a market time of 50 days. It doesn't look l...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoThere weren't any significant changes since last month. The inventory levels are staying steady and they are staying low. There are a lot of buyers looking for these homes, so sellers who market their home carefully and price it attractively are enjoying short listing times. The median sales price for condos in Museum Park was $495,000. Price Range: $400,000-$800,000Price Range: $800,000+ Museum Park at Central StationHousing Type: TownhomeTownhomes continue to sell very fast. Overall the average market time of the ones that are under contract is only 47 days. One of the closed homes took 213 days to sell, but all the others only took two months or less. It looks like this seller'...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoJust like last month we have seen a small increase in inventory. With most condos selling in less than a few months this is great news for buyers. Inventory is still quite low, so sellers can expect to see a lot of interest in their listing. Having a few more homes available for sale eases the stress on buyers of dealing with multiple offers and not having enough choice. The median sales price for condos in Museum Park was $515,000. Price Range: $400,000-$800,000Price Range: $800,000+Museum Park at Central StationHousing Type: TownhomeOut of the 5 townhomes that are under contract 3 have listing times of under a month. In fact, 2 of them weren't even listed for a week! Buyers are ...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoA slight increase in inventory over the past month is a welcome sight in this neighborhood. There continues to be a lot of demand for homes in the South Loop and Museum Park has some of the most sought after real estate. The price range with the greatest increase in inventory is the $1-2m range and most of these homes are in One Museum Park East, a stunning glass tower that overlooks the Lake, Grant Park, and the skyline. Many buyers will be excited to see the choices they have in this building! The median sales price for condos in Museum Park was $569,500. Price Range: $400,000-$800,000Price Range: $800,000+Museum Park at Central StationHousing Type: TownhomeA lot of townhomes ha...
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By Terri Buseman, Downtown Chicago
(RE/MAX Premier Properties)
Start your Museum Park at Central Station home search here.Museum Park at Central StationHousing Type: CondoThe greatest difference in this market from last month is in the $700-800k range where nothing has sold, but 4 homes came to the market. The last condo to sell in this price range closed in October. The increase in inventory, plus the amount of time it has been since the last closing has pushed the month's supply of inventory to 4.8. The home that is under contract has been on the market for 100 days, so it might not have much of an affect on this number when it closes. These homes are still in a seller's market, but if more listings come through during the spring season and they continue to take months to sell these homes could approach a balanced market this year. The median sal...
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