WICKER PARK — It's raining fast sales and short market times, based on the latest real estate sales data for the neighborhoods of Wicker Park and Bucktown.
According to Realtor Eva Bergant's blog, 47 homes were sold in a four-week period from March 17 to April 14. Just under half had been on the market for less than 30 days.
Of those sold, 35 were condos or townhomes, seven were detached single-family homes and five were multi-unit apartment buildings.
"We are definitely in a strong and busy market, with a short inventory of available homes. Buyers need to be on top of the market to find the property they want," said Bergant.
Realtor Greg Nagel echoed Bergant and speculated that the "dramatic inventory drop" is due to builders stopping construction a few years ago because prices dropped. People stopped reselling because prices dropped, too, he said.
"There are a lot of resellers waiting for prices to rise and it takes time for the builders to build new inventory," Nagel said.
As of April 14, there are just 30 detached homes and 79 attached properties on the market for the neighborhoods of Wicker Park and Bucktown. Last year, 68 detached homes and 139 attached properties were on the market at this same time last year.
With the exception of a two-bedroom, one-bath garden-unit condo at 2127 W. Pierce Ave. in Wicker Park that sold as a short sale for $60,000 on April 11 at 35 percent of its list price, all of the homes sold between March 17- April 14 were at 94 percent of list price or higher.
Topping the list of sales was a four-bedroom, three-bath single family home at 2117 W. Potomac Ave. in Wicker Park that sold for $905,000 on April 12. The home was on the market for nine days and sold at 101 percent of its list price.
Not far behind, a four-bedroom, three-bath single family home at 1961 W. Schiller St. in Wicker Park sold for $900,500 on March 27. The landmark district home owned by real estate developer Louis Prus was on the market for 11 days and sold as a foreclosure at 116 percent of its list price.
Condominium highlights include two recent sales inside "The Armitage Collection" nine-unit development at 1900-04 W. Armitage Ave. in Bucktown, which is now sold out.
A three-bedroom, two-bathroom duplex unit with garage parking at 1902 W. Armitage Ave. sold for $559,000 on April 8. The home was on the market for 18 days and sold at 100 percent of its list price.
Realtor Lynda Lipkin, who sold the unit, confirmed that all homes in the new construction project by builder Halcyon are sold, with the majority going to "first time home buyers under 40."
Elsewhere in The Armitage Collection, a two-bedroom, two-bath penthouse unit with garage parking at 1902 W Armitage Ave. sold for $465,000 on March 29. That home was on the market for three days and sold at 99 percent of its list price.
Realtor Bessie Alvarez said that her client purchased the 'Armitage Collection' penthouse "sight unseen," and "knew the market was heating up, knew not to hesitate."
In other "fast sale" highlights:
A four-bedroom, four-bath townhouse at 2336 W. Wabansia Ave. in Bucktown sold for $700,00 on April 1. The home was on the market for 5 days and sold at 100 percent of its list price.
A three-bedroom, two-bath condo at 2342 N. Oakley Ave. in Bucktown sold for $400,000 on April 11. The home was on the market for 4 days and sold at 98 percent of its list price.
A three-bedroom, two-bath condo at 1812 W Armitage Ave. in Bucktown sold for $440,000 on April 1. The home was on the market for 5 days and sold at at 98 percent of its list price.
A three-bedroom, two-bath condo at 1555 N. Wood St in Wicker Park sold for $495,000 on April 8. The home was on the market for 5 days and sold at 99 percent of its list price.
A three-bedroom, three-bath single family home at 2030 W. Shakespeare Ave. in Bucktown sold for $465,000 on March 28. The home was on the market for 7 days and sold at 98 percent of its list price.
A two-bedroom, two-bath loft-style condo at 2201 W Wabansia Ave. in Bucktown sold for $348,000 on March 29. The home was on the market for 3 days and sold at 99 percent of its list price.
A two-bedroom, two-bath condo at 1702 W. North Ave. sold for $394,835 on March 29. The home was on the market for 8 days and sold at 100 percent of its list price.
A three-bedroom, three-bath condo townhouse at 2330 W Armitage Ave. sold for $489,000 on March 25. The home was on the market 2 days and sold at 98 percent of its list price.
