The end of 2013 saw some impressive gains for the Chicago condos and real estate market as the Case Shiller Home Price Index reported a three-year high for Chicago-area condos.
In addition, the end of the year saw Chicago home prices reach their highest levels in four years.
Taking a closer look at the data, we see that although Chicago condo and home prices are on the rise in a major way, but they still have some ways to go before getting back to pre-recession levels. In fact, Chicago single family homes prices, while they’ve risen 24 percent from record lows, they are still about 24.4 percent below levels from the bubble peak.
In addition, while Chicago condo prices rose 20.6 percent from record lows, they are still about 20.7 percent below…