Chicago Neighborhoods > Uptown Housing Market

Uptown Housing Market

Until about the middle of last year the condo inventory in Uptown had been getting steadily worse, peaking at almost a 3 year's supply in December 2008. The current inventory of 2 - 3 bedroom condos now sits just above a 10 months supply - substantially better than last year's level. Not only are sales up over last year but the number of units on the market is down.

Meanwhile, the number of days that properties have been on the market has steadily declined over the last 2 years, starting at almost 400 days but now finally dropping below 150 days.

Note that the MLS changed their reporting methodology for market times and it affected data back to October 2007.