“These are not neighborhoods where they’re knocking down warehouses and building 50 new units. We don’t have a lot of additional inventory.”
– Jeff Lowe, of Century 21 Sussex & Reilly, describing the relative lack of inventory in Lincoln Park and Lake View.
According to data from MLSNI, total sales last year in those two neighborhoods totaled more than $2 billion, representing 4,106 condos, townhomes and single-family homes. The average sale price for 2007 was $494,952, and homes priced between $200,000 and $249,999 represented the single largest sales bracket with 472 closings reported.
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