Market Conditions in 60203>Question Details

Swanie3,  in 60203

can anyone tell if condominium prices are declining, stable or appreciating in zip 60203?

Asked by Swanie3, 60203 Tue Oct 4, 2011

i was told by a realtor that condos in zip 60203 are atleast stable if not increasing

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Evanston 60203 boarders Skokie and both areas are declining values based on my knowledge.
0 votes Thank Flag Link Tue Mar 6, 2012
In the first quarter of 2012, the condo market in most of the North Shore, Evanston included, continues to be soft. Inventory continues to be higher than historical averages. I would characterize prices as relatively stable. I believe that the data is showing that we have hit the bottom of the market both in terms of inventory (we're lower than in '08) and for prices. Assuming gas prices don't top $5.00/gal and we avoid military action in Iran, I would expect single family homes see a 0.5% to 1% upward move this year. It is likely that the heavy condo inventory will keep prices stable or cause a 1% to 3% decline over 2012. I would still characterize this as a stable condo market and would expect to start to see upward pressure impact prices once we're closer to a 6 month supply, likely sometime in 2014.
0 votes Thank Flag Link Mon Mar 5, 2012
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