09/28/2012 05:54 pm ET

How Long Will That Condo Sit On The Market?

Selling a home in Chicago still takes time, but you need less patience in Lincoln Park than in Avondale.

Condominiums and townhomes in Lincoln Park that sold in the 12 months through August sat on the market an average of 127 days, the shortest time among 18 Chicago neighborhoods surveyed by local brokerage @properties. Avondale, on the Northwest Side, had the longest average selling time, 177 days.

Market times have shrunk over the past year amid a nascent recovery in the local residential market. The average Chicago condo or townhome went under contract 160 days after being put on the market in the year ended Aug. 31, down from 181 days in the year-earlier period, according to @properties.

Read more on Crain's Chicago Business