Holy cow over 2,500 Lakeview condos sold last year

A popular condo conversion in a former church building sits at North Seminary and West Barry in Lakeview (All photos Eric Rojas, Broker, Kale Realty)

A whopping 2,596 condos (attached units/ townhouses) sold in Lakeview over 2021. It may be a calendar year record! This is the highest number of unit sales recorded in the MLS since 2007 where 2,316 condos sold. 2007 is as far as I can go back on unit sales and the year prior to the mortgage meltdown of 2008. 

• 2,596 condos sold in 2021
• 1,868 condos sold in 2020
• 1,739 condos sold in 2019
• 1,901 condos sold in 2018
• 2,061 condos sold in 2017
• 2,002 condos sold in 2016
• 2,042 condos sold in 2015
• 2,316 condos sold in 2007

The 2,596 condos sold blows away the 1,739 sold in 2019. In that year we had very low interest rates and no pandemic. The Lakeview condo sales trend has bucked the pandemic conventional wisdom of many! The relatively dense Lakeview area has churned out sales rather than pile up months of inventory. 2020 unit sales (height of pandemic unknowns) even surpassed 2019. Anecdotally speaking the majority of sales appear to be locals making lateral and move-up purchases. 

Typical condo construction around Lakeview over the past ten years.

Tough to buy...

One group of our clients is looking for a "duplex" home (multi-level attached unit) with minimum three bedrooms in Lakeview.  This is a hard score if you're on a budget.  Currently there are fifteen duplex condo homes listed that meet the criteria. The median asking price is about $900,000!

Twenty-seven Lakeview duplex condo homes (minimum three bedrooms) are under contract with a median asking price of about $700,000. 

Read more at www.facebook.com/chicagorealestatelocal

To buy and sell in Chicago's Lakeview and surrounding neighborhoods please contact erojas@kalerealty.com