Near West Side Housing Market
Like many Chicago neighborhoods home inventory levels in the Near
West Side took a huge hit after
the tax credit expired. The months supply of 2 - 3 bedroom condos
skyrocketed as contract volume nosedived. It has only recently
with October at the lowest level since we've been tracking it. Condo
inventory is now a respectable number now at just under 10 months
Market times in the Near West have appeared to
decline but it's partly an illusion. A large portion of the decline has
been driven by the cancellation and expiration of some extremely
listings - e.g. several at 775 W Jackson (the Odyssey Lofts).
Nevertheless, what remains doesn't look that old at just about 130 days
Note that the MLS changed their reporting methodology for market times, affecting the data back to October 2007.
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