Condo prices fell in 59 neighborhoods, including all of the 10 most popular

In the first half of 2009, the median sale price of a condo fell in 59 out of 77 Chicago neighborhoods, including almost all the neighborhoods with well-developed condo markets.

Some highlights:

  • Lakeview condos fell 7.6 percent
  • Near North Side condos fell by 15 percent
  • Loop condos fell by 20 percent

Here is a chart that shows the percentage increase / decrease in median condo sales prices by neighborhood, over the same period in 2008. Dark bars indicate neighborhoods with many sales; light bars indicate those with few sales. Almost all neighborhoods with many sales are in negative territory.

neighborhood_condo_changes

Click through to the Lakeshore Analytics site to see enlarged chart, plus one that shows median condo prices by neighborhood.

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