LINCOLN SQUARE — It's no secret that the condo market has been less than robust following the 2008 real estate crash.
But in Lincoln Square, demand and prices for attached units are slowly creeping back up, real estate broker Eric Rojas says in an analysis on his Chicago Real Estate Local blog.
Through mid-September, condo sales in the neighborhood jumped 30 percent compared with the same period in 2012: 250 versus 192.
Prices are on the rebound as well. According to Rojas, the median sale price of $240,000 is $30,000 more than in 2012, and it's continuing to rise.
Rojas discovered that the median asking price for current listings is already $50,000 more than the median asking price for units under contract.
Sellers are either feeling confident enough to up the price in relation to comparable units that have recently sold, or owners are finally feeling good about parting with larger, better-furnished units, he speculated.