Every now and then we like to provide our readers with a brief snapshot of how the Chicago real estate market is faring, and as we inch closer to the busy spring market, here’s a quick look at how prices, interest rates, and the outlook for buyers and sellers is around the city of Chicago:
Chicago Real Estate Prices:
According to recent stats, prices on closed properties for all MLS listings is up 5.13% from $226,562 year-to-date in 2014 to $238,138 in 2015. And although it’s still early, Berkshire Hathaway HomeServices has the highest year-to-date sales price of all the major firms at $466,997.
Interest Rates Are Still Low:
Many feel that interest rates are bound to rise sometime in 2015, but currently, the rate on a 30 year fixed rate mortgage in