Bronzeville Mural

Bronzeville Real Estate Analysis – 2019

Bronzeville Single Family Homes

Bronzeville Single Family Homes sold well in 2019.
A total of 112 homes were sold. This is up 33% versus 2018.
The average selling price for a single family home was $486,975.
The average selling price was up 18% versus the previous year.
The average market time increased by 23 days versus the previous year.

Bronzeville Condos

Bronzeville Condos also sold well in 2019.
A total of 272 condos were sold. This is up 12% versus 2018.
The average selling price for a Bronzeville condo was $199,455.
The average selling price was up 5% versus the previous year.
The average market time decreased by 4 days versus the previous year.

Bronzeville 2 to 4 unit buildings

39 multi-unit properties were sold in 2019.
That is an 8% increase versus 2018.
The average selling price was $341,995.
The average selling price was up 15% versus the previous year.
The average market time decreased by 73 days versus the previous year.

Bronzeville Rentals

244 units were rented in 2019.
That is a 24% increase versus 2018.
The average rental price was $1,530.
The average rental price was actually down 4% versus the previous year.
The average market time increased by 5 days versus the previous year.

Bronzeville Land

19 parcels of land were sold in 2019.
That is a 27% decrease versus 2018.
The average selling price was $90,289.
The average selling price decreased by -44% versus 2018.
However, this may not be an apples to apples comparison.
This is because every parcel of land is a different size.
Land value is driven largely by location, square footage and zoning type.

Summary

Overall, 2019 was a great year for Bronzeville real estate.
The biggest gains were seen in the Single Family Home category.
Values for Single family homes were up 18% in 2019.
This was driven largely by sales of new construction homes.

Multi-Unit properties also appear to be in great demand.
Values are up 15% versus the previous year.
Also, the average time it took to sell a multi-unit property was
cut in half versus 2018.
This is an indication that demand for this property type is high.

Contact Mark

If you have any questions about Bronzeville real estate,
please call or text me at 773-354-6693.

Thanks, Mark Killion
Kale Realty – Chicago, IL
Cell: 773-354-6693
email: mark@markkillion.com
website: www.buybronzeville.com

Mark Killion, Realtor

Close to Lake Shore Drive. Walk to the Oakwood Beach and lakefront.
Public transportation at your doorstep. The Bronzeville real estate market is hot.
Schedule your showing today. Buy Bronzeville! Asking Price $280,000.

Front

For more information, please call or text Mark at 773-354-6693.

Until the next time,

Mark Killion
Kale Realty
2447 N. Ashland
Chicago, IL 60614

Cell: 773-354-6693

Send me a note!

Visit me online: https://www.buybronzeville.com

EQUAL HOUSING OPPORTUNITY

Due to strong rental demand in the area, owning a condo may even be cheaper than paying rent.
The average selling price for a 2bed/2bath condo, in 2016, is about $91,000.
The average selling price for 3 bedroom condo, with 2 baths, is about $143,000.

As of 12/3/2016, there are 17 3bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $154,000.

As of 12/3/2016, there are only 7 2bed/2bath condos on the market for sale in Bronzeville.
The median asking price is $160,000.

If you are thinking about buying or selling a condo in Bronzeville, let me know!
You can text me: Mark Killion 773-354-6693.

Bronzeville 3bed/2bath condo sales analysis – Chicago

Until the next time,

Kale Realty
2447 N. Ashland
Chicago, IL 60614

Office: 312-939-5253
Cell: 773-354-6693

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Newport Condos – 4800 S Chicago Beach

Sales Trends for 1bed/1bath units

Sales Trends for 2bed/2bath units

Sales Trends for 3bed/2bath units

If you are thinking about buying or selling a condo in Newport Condos,
this should give you a good idea of current values. For a more
detailed analysis, please contact me.

p.s. I have a beautiful 1bed/1bath unit, at Newport Condos, for sale at $90,000!

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Let’s take a look at last year’s condo sales in Grand Boulevard, Chicago.
Grand Boulevard is also referred to as “Bronzeville”.
Grand Boulevard comprises the southern half of Bronzeville.
Douglas makes up the northern half of Bronzeville.
This analysis is based on transaction data from the
MRED Multiple Listing Sytem.

Overall, it was a good year for condo sales in Bronzeville.
A total of 148 condos were sold. Here is the breakdown:

– 1 Studio condo sold for $105,000
– 5 One Bedroom condos sold for a median price of $72,500
– 45 Two Bedroom condos sold for a median price of $59,500
– 83 Three Bedroom condos sold for a median price of $105,000
– 14 Four Bedroom condos sold for a median price of $141,000

If you are thinking about buying or selling a condo in Bronzeville,
this should give you a good idea of current values. For a more
detailed analysis of Bronzeville Real Estate please contact me.

Until the next time,

Mark Killion
Real Estate Broker
Kale Realty
24 Hour Voice Mail: 312-242-1822

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

Bronzeville Selling Prices – Condo Trends

Bronzeville Condos – Selling Price of a 3bed/2bath Condo

Chart of median selling prices in Hyde Park Chicago

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY

As you might know, most condo buildings and associations
are NOT approved for FHA financing. So, it can be challenging
to find condos in Chicago that will qualify for FHA
financing.

Of course, you can visit the HUD website to find out which
buildings are approved for FHA. But, the website does not
tell you which condos are currently on the market For Sale.

The biggest advantage of using FHA financing is that you only have
to put down 3 1/2 % of the purchase price for a down payment.
Most conventional programs require at least 10% down.
That is a big difference!

Also, it is usually easier to qualify for a FHA loan because
it has a lower credit score requirement than a conventional loan.
Most banks only require 620 to 640 credit scores for a FHA loan.
But, conventional loans usually require 680 or better.

And last, but not least, conventional loans have stricter rules
regarding debt ratios. So if you are like most Americans and
you have a car note, student loan, and credit card debt, you
will probably qualify for a larger loan if you go with FHA.

Shopping for a condo can be tricky. I have a lot of experience with
real estate sales. I would be happy to represent you as a buyer’s agent.
The cost to you is absolutely nothing!

So, if you are looking for a FHA Approved Condo, please Send me a note!
with your name and price range.

Until the next time,

Mark Killion
Kale Realty
542 W. Roosevelt Rd
Chicago, IL 60607

Send me a note!

Visit me online: www.773property.com

EQUAL HOUSING OPPORTUNITY