May 2013

Found 5 blog entries for May 2013.

Chicago condo prices

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 ownerChicago 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.

While New York City may be close to 1,000 miles away, there’s no difference when it comes to the type of service and attention that Chicago condo dwellers demand. Just ask Jenene Ronick, founder of Luxury Attache. The lifestyle management company supplies concierge service to close to 30 Manhattan buildings, and according to Ronick, no request is too outlandish. She adds, “Sometimes

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Housing is back !  


Money Magazine says Housing is back2012 showed signs that the housing market in Chicago was regaining its health. There is no doubt after first quarter of 2013 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.

Medium prices for sold condos under 1M in the downtown Chicago condo market for the month of April was $343,000, up 8% over March 2013 and up 22% over April 2012. Total sold units were 713 units in April compared to 548 units in March. In March of 2012 closed units were 510.

Medium prices for sold condos above 1M in the downtown Chicago condo market for April was $1,340M which was actually down

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Chicago condo style

In Chicago, most everyone has a favorite sports team. You’re either a Cubs or White Sox lover, you never miss a Bulls game, or you’re a die-hard fan of the Bears. But for Chicago hockey fans, the Blackhawks hold a special place in the hearts of many Chicago homeowners, so much so that Blackhawks vanity plates have become the most popular sports license plates on cars in town.

According to the Illinois Secretary of State's office, the Hawks have sold 8,356 speciality license plates, more than any other professional sports team in the state. The Blackhawks license plate features a bright red background with the team logo. The White Sox are next, with 4,893 purchased plates, then the Bears at 4,519, followed by the Cubs at 4,393, and finally the Bulls

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Limited Inventory, Multiple Offers (bidding), Decreased Time on Market, Upward Pressure on home Prices

Chicago CondosFirst quarter is showing that we are experiencing higher demand than supply in housing markets across the nation. We are still experiencing historically low mortgage rates and affordable home prices which is the catalyst for buyer traffic which is 25% higher than a year ago.  According to the National Association of Realtors”  Sales have been above year –ago levels for 21 months while prices have shown 13 consecutive month of year-over year increases:”

Like the national market,Chicago is also experiencing lower levels of housing inventory and, in turn, lower market times, multiple offers and higher asking prices. Buyers are experiencing the headache

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