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Real Estate News in Lincoln Park - January 30th, 2017
In Lincoln Park, the 2016 year ended with 4th qtr single family home (sfh) prices off their 2016 highs while condos (attached sfh) closed firmer at their quarterly high prices. Homes continue to sell in fewer days and for higher prices. Prices remain firm and near their 2007/2008 highs while supply of inventory continues to decrease and remains at their historical lows. Given the continued demand for housing in Lincoln Park, residential new construction continues on a brisk pace with the supply emanating from the (1) teardown of commercial/industrial properties and the (2) deconversion and subsequent teardown of townhome complexes. What does 2017 hold for us? Should you wish to purchase a home, I suggest less leverage. The housing mkt highs coupled with the stock market highs and interest rates trending higher put the economic environment in a precarious position. Tread forward with caution

News for Lincoln Park, IL - June 15th, 2010 3:29pm
Overall the mkt in Lincoln Park continues to hang in there. Prices seem to have stabalized (but for how long?) and we had a nice up tic in number of sales over the last 30 days which means that inventory has thined out so there is a lack of supply at certain price levels. I am seeing those that do not have to sell are sitting tight. Although interest rates remain at record low levels, this will not be enough to bouy the mkt. The housing mkt remains very troublesome and I expect prices to continue south through the remainder of 2010 and into 2011 with both prices and volume trailing off.
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

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Fall 2018 Market Update
Average Sold Home Price: $725,000

Average Time on Market: More than 120 days

Best Selling Price Range: $600,000 - $649,000

Existing Home Prices for the past 90 days: No Change

Market Trend: Decreasing

Buyer's or Seller's Market: More buyers than sellers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: No Change

Multiple Offers? Yes

Multiple Offers Commentary: Given the Spring market and tight inventory, we are in a multiple bid market

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 0-5%

Is Financing Available For Qualified Buyers? Yes

Comments on Financing For Qualified Buyers: banks are back to liberal practices

Housing Inventory: Very tight market

Housing Inventory Comments: Housing inventory continues to decrease

Greatest Activity: First Time Buyers

Best reason to buy or sell: Lincoln Park is one of the most desirable neighborhoods in the city. This will not change.

Nearest Metro Area: Downtown Chicago

Housing Hot Spots: Streeterville, New East Side, River North, Bucktown

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Quentin Green II
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Mortgage Rates for Dec 16th, 2018
30 year fixed rate: 4.51%
15 year fixed rate: 3.90%
30 year jumbo rate: 4.41%
15 year jumbo rate: 4.12%
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Real Estate Professional, Quentin Green II Quentin Green II
Lincoln Park Homes
Specializing in Lincoln Park Real Estate
10516 S. Seeley Ave.
Chicago, Illinois 60643
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(Because current market conditions can change rapidly in any given marketplace,
please check with Quentin Green II for current Lincoln Park, IL market conditions before acting on this information.)
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