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Chicago Neighborhoods > Lakeview Housing Market
Lakeview Housing Market
Through July 2008 Lakeview appeared to be one of the few Chicago
communities whose real estate market had been immune to price erosion
and housing inventory buildup. However, by September 2008 the situation
had started to deteriorate as shown in the inventory chart below
(condos/townhomes with 2 - 3 bedrooms). The condo inventory levels were
extremely high by historic standards during the fall and winter,
continuing on throughout 2009 and early 2010. However, March and
April of last year
showed some improvement, with higher sales volumes driven by the tax
credit. After the tax credit expired the inventory situation hit
the worst levels in 3 years but recently the situation has improved.
October levels were considerably below 2010 with quite a bit fewer
condos on the market. Beating 2010 wasn't hard to do since 2010
was just awful by
historic standards.
Meanwhile,the number of days on market has been steadily drifting upwards, with seasonal spikes in December.

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