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Pilsen Property Values

Check out this months detailed monthly Pilsen Market update here.

Pilsen Single Home Values

Check out the chart below.  Come back often as the data in this chart is updated monthly automatically.  Please note that the Pilsen single family home graph below includes all bedroom and bath counts.  If you have a Pilsen single family home and would like a more accurate indication of market value, please call or text me at 312-953-6725.  Or email me at myrealtorphil@gmail.com with some details on your home and I can send you a comparative market analysis for you home.

Inventory for Pilsen single family homes is also extremely low. A balanced market is around 6-7 months of inventory. Less then six months is good news for sellers out there. When inventory is low, there’s less for buyer’s to choose from. This generally results in more buyer’s fighting over your property to get an offer in!

Pilsen Condo Values

Check out the chart below.  Come back often as the data in this chart is updated monthly automatically.   If you have a Pilsen condo and would like a more accurate indication of market value, please call or text me at 312-953-6725.  Or email me at myrealtorphil@gmail.com with some details on your home and I can send you a comparative market analysis for you home.

2 Bed Condos

The most common sized Pilsen condo is the 2 bed, 2 bath unit.  Values of late have seen a steady appreciation.  Pilsen condo building started to catch traction starting in about 2004.  During the recession, builders basically stopped building condos in Pilsen.  Part of why values are increasing is because there is limited inventory out there for potential buyers.  We are starting to see some more condo projects breaking ground in the neighborhood though.  2014 might be a good year to sell your condo, because as inventory increases, prices tend to flatten out and sometimes drop depending on inventory levels.

3 Bed Condos

Pilsen Condo Inventory

As I mentioned previously, the supply of condos on the market can determine values.  As of February 2014, you can see that inventory is very low based on the last 3 years of data on the chart.  That’s the main reason why I believe that 2014 will be an excellent year to sell you Pilsen condo.

Pilsen Multi-Units

Unfortunately the data for multi-unit properties in Pilsen is a bit more difficult to lay out.  Reason being is that there can be a dramatic difference in value for a 2 unit and a 4 unit, both of which are lumped into the same category in our MLS.  If you have a 2-4 unit in Pilsen and want to get a better idea of how the market is and specifically what you building is worth, call or text me directly at 312-953-6725.

Pilsen Land

While much of Pilsen has been developed, there has been a lot more activity happening in regards to land sales in Pilsen. Much of the recent activity has been in the form of developers purchasing land to build new single family homes.  If you have land that you want to buy or sell, give me a call at 312-953-6725.  I’ve worked with developers in Pilsen in the past.  Many are still holding onto some land due to the drop in the market and waiting for housing prices to rebound some more.

What’s Your Home Worth?

Fill in the information on your home below and I’ll get back to you with a free market analysis of you property.

What’s Your Home Worth?

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What’s My Home Worth

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