Chicago Neighborhoods > 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.