We get so many inquiries about Wicker Park & Bucktown area real estate that we decided to create a blog post for it. We are also in the process of creating an ongoing column about Real Estate in the Bucktown and Wicker Park neighborhoods so you can keep your pulse on the market every month.
From a sales perspective, the market is still sluggish so be prepared for lower values. In Wicker Park & Bucktown proper, values are down about 10% from the heyday of 2007. So be prepared. The great news is....sales have really started to pick up in the neighborhood. It looks like we may just have reached the bottom and are in the process of turning the corner.
The rental market is very strong in Wicker Park, Bucktown and the surrounding neighborhoods and what that means is that there are very few rentals to be found. Properties rent quickly. And finding anything for less than $1,000/month is very difficult.
If you can get financing, now is a great time to buy. Rates are as low as 3.5%. Inventory is somewhat limited but prices continue to be lower than they have been. Buyers are out in force now. If you wait much longer, prices will be higher. With the demand I'm seeing, prices will definitely stabilize next year.
So don't wait forever. Find a great home now.
Have additional questions or need help?
Contact Wicker Park & Bucktown Real Estate Expert
Thyra DeCicco - @properties
1875 N. Damen Bucktown Office