Streeterville & the Gold Coast Among the Top Buyer's Markets in Chicago

Posted by Leo Clark. on Friday, September 26th, 2014 at 1:17pm.

According to Zillow’s monthly Buyer-Seller Index, which was released last week, Streeterville and the Gold Coast—two of the most prestigious downtown neighborhoods—are among the top buyer’s markets right now in the Chicago metro area.

Although somewhat surprising, the report shows each of these two areas having a relatively high percentage of recent listings with a price cut, and a slightly lower sale-to-list-price ratio than some of the city’s neighborhoods with a strong seller’s market, like Logan Square and River North for example.

The index, which uses days on market stats, rate of price cuts, and sales-to-list price ratios to determine market conditions, doesn’t necessarily relate to home values in each particular neighborhood however, as Chicago’s annual home appreciation of 6.9% is actually higher than the national average of 6.6%.   

So what does all this mean? Early indications are that the traditional busy fall market could be especially active in Streeterville, the Gold Coast and in several of the surrounding neighborhoods this year—but only time will tell.

If you’re in the market to buy a condo for sale in Streeterville or the Gold Coast, don’t wait any longer. Give our team of downtown Chicago real estate experts a call to discuss all your goals for a new home or condo in the city and let us help find you the perfect new place to call home in some of Chicago’s hottest locations!

CHECK OUT SOME OF THE HOTTEST LISTINGS IN STREETERVILLE AND THE GOLD COAST BELOW!

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 For a full breakdown of Chicago's top buyer's and seller's markets, check out this informative piece from Chicago Magazine.

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