Felix,
They are selling in Rogers Park, albeit slowly. Prices have trended slightly down over the past several months, since a peak last July. At the same time, market times have trended up, hovering around 175+/- days for the last 4 months, although some of that time can be attributed to homes selling through the winter/holiday seasons.

As for 3br/2bath condos in Rogers Park, there are currently 123 listed for sale, while only 7 closed in April (6 in March) for an absorption rate of 17.6 months (6 months is considered a 'normal' market).

One other thing to consider: The homes that closed in the past two months had an average list price of $300,115, while those that are still unsold are listed at an average of $340,689. So, if you choose to sell, pricing competitively will be the biggest key to success.

Good Luck!
Mark

Rogers Park has always been a great place to live. I am not sure about your property appreciating that much in the last 30 days, but I am sure your condo will get the attention and sell in a short period of time. If you are able to couple up with a Realtor who knows the area well, and has marketing tools to move your property, you should be in great shape. Make sure your property is priced well. Although the buyers are scarce, they do exist and Rogers Park has always been a HOT area. I grew up there.

Best of luck!

Hi Felixj,

I've been living in Rogers Park for the past 6 years. I also have a listing in Roger Park and watch the market in the area all the time. Prices are generally stable but I doubt that anything would go up and down $30k in 30 days.

There are a lot of properties on the market for sale but good ones still go fast. The number of available 3bed room units are a lot less than 2bed and 1 bed room units on the market. It means they are desirable and have less competition.
If your unit is attractive to buyers and also priced right you could possibly sell your unit before you find the tenant(or you can try both).
If you have any further questions please let me know anytime.

Jimmy Tai
Lake City Realty
jtai@lakecityhomefinder.com
773.875.6293

Dear Felix,

Condos in RP never stopped selling. I wouldn't go as far as the 30k jump that Zillow suggests, but depending on your specifics, location, and proximity to public transportation, sq. footage, view, upgrades, and etcetera. You will have an appreciation every year.

If it's priced right and is a desirable unit, the buyers will come. Otherwise the rental option might be the way to go until the market turns itself around.

Best of Luck to you