September 11, 2008
A Little Easier to Get a Discount on a House than a Condo
Redfin’s events are becoming a regular thing at the Goose Island Clybourne Pub. Maybe all the tumult in the real estate and mortgage markets recently makes us feel that a beer is necessary. Whatever the reason, we’ll do it again on Nov. 5th (RSVP)- speaking for the beer and pricing data at least. We can’t promise another federal takeover of quasi-public mortgage institutions.
Looking at the MLS data on sold homes in the last two months, it looks like there are discounts across the board, except in Loop and Near South Side Condos (perhaps due to ) and Near West Side Houses. Overall, the discounts are a little larger on houses than on condos. Data is below and full slides are here.
Condos Sold July 8- Sept 8, 2008
| Neighborhood | # of deals | Sale vs List | Avg Sold Price |
| Albany Park Condos | 39 | 98.0% | $233,354 |
| Edgewater Condos | 140 | 97.3% | $264,658 |
| Irving Park Condos | 32 | 96.6% | $252,108 |
| Lakeview Condos | 441 | 97.6% | $368,821 |
| Lincoln Park Condos | 258 | 96.8% | $464,323 |
| Logan Square Condos | 97 | 98.2% | $322,822 |
| Loop Condos | 117 | 100.3% | $545,289 |
| Near North Side Condos | 432 | 97.4% | $536,997 |
| Near South Side Condos | 207 | 105.2% | $492,602 |
| Near West Side Condos | 189 | 99.1% | $351,109 |
| North Center Condos | 78 | 97.2% | $412,496 |
| Portage Park Condos | 11 | 95.3% | $188,745 |
| Ravenswood Condos | 89 | 98.3% | $320,267 |
| Rogers Park Condos | 97 | 97.5% | $221,469 |
| Uptown Condos | 178 | 97.4% | $272,420 |
| West Ridge Condos | 56 | 95.2% | $178,779 |
| West Town Condos | 271 | 97.2% | $384,602 |
Houses Sold July 8- Sept 8, 2008
| Neighborhood | # of deals | Sale vs List | Avg Sold Price |
| Albany Park Houses | 19 | 96.4% | $333,447 |
| Edgewater Houses | 10 | 96.9% | $580,350 |
| Irving Park Houses | 23 | 95.3% | $422,874 |
| Lakeview Houses | 24 | 92.7% | $1,262,037 |
| Lincoln Park Houses | 33 | 94.0% | $1,610,864 |
| Logan Square Houses | 36 | 94.0% | $808,772 |
| Near West Side Houses | 6 | 102.3% | $770,303 |
| North Center Houses | 49 | 95.5% | $954,129 |
| Portage Park Houses | 42 | 95.0% | $299,658 |
| Ravenswood Houses | 22 | 93.5% | $677,534 |
| Rogers Park Houses | 3 | 94.4% | $423,333 |
| Uptown Houses | 5 | 94.6% | $438,600 |
| West Ridge Houses | 20 | 93.1% | $350,355 |
| West Town Houses | 28 | 95.0% | $732,147 |
