Chinatown’s a small neighborhood to begin with, so its not a shock to learn that just 12 condos, townhomes, and single-family homes have sold there since January 1. By comparison, the South Loop has seen more closings than that since Thanksgiving.
Chinatown is a condo market, and condo sales and median values were both down in 2010 compared to 2009 and 2008.
- In 2008, 27 condos sold at a median price of $245,000, according to Redfin’s records.
- In 2009, 19 condos sold at a median price of $223,000.
- In 2010, seven condos have already sold at a median price of $210,000. One more, a three-bedroom / 1.5-bath listed at $264,900, is under contract; if it closes by December 31, the median for 2010 would rise to $220,500.
Fourteen homes are currently for sale in Chinatown, at prices ranging from $199,000 to $599,000, with a median price of $282,000. Most are no more than 11 years old, and have been on the market 117 days on average.