Chicago Condo Prices Spike as Market Continues to Recover
Posted by Helaine Cohen on
There’s excellent news for Chicago condo owners! Prices for Chicago condos continue to spike as the overall real estate market continues to find stable footing once again. In March and April, the Chicago real estate market saw double-digit increases in home sales year-over-year, not to mention a favorable increase in median prices to boot.
Buyers seem to be frantic to take advantage of the historically low interest rates that are the talk of the town when it comes to purchasing Chicago real estate right now. March saw a 13.8% increase in the sale of single-family homes and Chicago condos versus one year earlier, according to the Illinois Association of Realtors. This tend contineud in April with an increase of 22% in the sale of single-family homes…
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Chicago condo owners elect to live in these first class high-rise buildings because of the abundance of amenities and conveniences that are attached to their address. Most notably, concierge service stands at the top of the list when you ask Chicago condo owners about their preferences. And when it comes to anything you need, your concierge’s help is just a phone call away.
2012 showed signs that the housing market in Chicago was regaining its health. There is no doubt after first quarter of 2013Â that housing is back. So where is the market headed in terms of pricing? Every analyst has upgraded their expectations on future projections because the market is gaining momentum faster than originally predicted.
