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10 Most Competitive Neighborhood Housing Markets in Chicago, August 2015

by Peter Thomas Ricci

What neighborhoods, in Chicago’s competitive housing market, are seeing the most activity?

mount-greenwood-most-competitive-chicago-neighborhood-housing-markets-redfin

The other week, we reported that with 266 home sales in August, the Near North Side was once again Chicago’s top-selling neighborhood, with Lincoln Park, the West Loop and Lakeview also showing strong sales.

Those neighborhoods, though, are also the largest in the city, and when we analyzed instead the elements of market competitiveness, the resulting rankings were much different.

First, here are the neighborhoods with the least median days on market, courtesy of Redfin research:

chicago-neighborhoods-time-on-market

At just seven days, Mount Greenwood’s time on market was the lowest in the city. Interestingly, the West Loop was not only among Chicago’s top-selling neighborhoods, but also had the second-lowest time on market.

Next, here are the neighborhoods with the highest average sale-to-list price:

chicago-neighborhoods-price-list-sale

In both Little Village and Archer Heights, listings sell for more than their initial price, while in the West Loop, South Loop, Humboldt Park and Wicker Park, reductions are minimal.

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