Lincoln Park condo sales, prices: 2011 singing the Blues

We recently represented another client purchasing a well located Lincoln Park condo at a price below average comparable properties.

Chicago is home of the Blues and Halsted Street in Lincoln Park is home to a couple great Blues clubs... B.L.U.E.S. and Kingston Mines. The problem is Lincoln Park condo sales have a case of the Blues like may other Chicago neighborhoods.

I took a look at overall two bedrooms, two baths and three bedrooms, two baths condo sales for Lincoln Park for the first half of 2011. "2/2s and 3/2s" are typically the most requested condos by our clients.

• Lincoln Park two bedrooms, two baths condo sales 1/1/2011-6/30/2011

-2011 two bedrooms, two baths condo unit sales were down about -33% from the the same period last year. 90 condos sold this first half compared to 134 condos sold same period 2010

-Median price was down about -6% at $359,000 compared to $380,000 in 2010.

• Lincoln Park three bedrooms, two baths condo sales from 1/1/2011-6/30/20111

-2011 three bedrooms, two baths condo unit sales were down about -23% from the same period last year. 31 units sold compared to 40 units sold in first-half 2010.

-2011 median price was about $500,000, down only -3% from the $515,000 of 2010.

2011 Interesting Statistics:
13% of closed two bedrooms two baths condos were distressed sales (foreclosure REO or short sale) in the first 6 months of 2011 (12 out of 90)

ZERO three bedrooms, two baths closed units were short sales or foreclosures in the first 6 months of 2011 (0 out of 31).

There are many other varieties of condos: 3/3s, 2/1s and 1/1s for example, but most people ask for a 2/2s or 3/2s and it makes a nice data set for trends.

See more Lincoln Park statistics and homes here!

All statistics pulled and analyzed from MREDLLC.com of which I'm a member. It is the best and most regulated real time home sale information available.