Lincoln Park prices, sales volume up sharply

LincolnParkCondos.com, the sponsor of our Lincoln Park High-rise Guide, has just published its Q3 Real Estate Market Update for Lincoln Park.

Some of the highlights:

Condominium and townhome sales increased by 68% in Q3 2012 compared to Q3 2011. The average sales price increased 20% in Q3 2012 compared to Q3 2011.

Some of the increase in volume and sales price is due to closings at the newly built Lincoln Park 2550 development – $38mm in sales closed in Q3 2012 in this development, consisting mostly of 2 and 3 bedroom condos.

We expect that Lincoln Park will exceed 1,000 total sales in 2012 for condos / townhomes – the first time since 2007.

Single family sales volume increased by 11.5% in Q3 2012 compared to Q3 2011. Prices fell approximately 9% in Q3 2012 compared to Q3 2011.

Rents increased across all property types in Q3 2012 compared to Q3 2011.

Visit LincolnParkCondos.com for access to the full report.