Chicago Neighborhoods > Near North Side Housing Market

In the Near North Side the inventory of 2- 3 bedroom condos got really high during the fall and winter of 2008, and by November of 2008 months supply of home inventory exceeded 3 years as a result of plunging sales. It  recovered quite a bit during the spring when the homebuyer tax credit was in effect but recently the inventory levels went back up. June inventory was about the same as last year's levels.

Meanwhile, market times are down slightly from their peak of around 375 days but at 350 days it's still taking a really long time for some properties to sell.

Note that the MLS changed their reporting methodology for market times in October 2007.