Monday, February 9, 2009

Homes In Uptown Selling Near Asking Price

According to Redfin, zip code 60640 is one of the ten neighborhoods in the Chicago area where homes are selling for the smallest discounts (based on December '08 and January '09 sales figures).


  1. I follow the comps in Uptown fairly religiously(at least for 3 bed 2 bath condos) and I can attest to this. You need to price things correctly, but those types of units have held their value over the past couple years. And in a market like the one we've seen, zero to a slight decline is a huge win.

  2. If one looks at the raw data uptown is very average for the metro area. Given the size of the zip-samples, the margins of error could be rather large. It's not a bad statistic just don't read too much into it.

  3. This is consistent with a recent appraisal I had done on my condo as part of my refinancing. It came back at my purchase price (I bought in March of 2007). Not bad considering the market...