Chicago’s Top Selling Neighborhoods for Condos
Posted by Helaine Cohen on
When it comes to buying and selling condos in Chicago there are certain neighborhoods taking a larger share of the market. Based on research provided by Redfin, a real estate brokerage offering up online information about selling, buying and owning a home, the largest number of condo and townhome sales came from the Near North Side.
The area saw 265 condo and townhome sales with a year-over-year sales change of 0.76-percent. That compares to the areas of West Town with 145 condo and townhome sales and a year-over-year sales change of 4.32-percent, plus Lincoln Park with 144 sales and a year-over-year sales change of -3.36-percent. While the South Loop saw a 0-percent change, 130 condos and townhomes were sold.
The research also looked at The Loop,…
1405 Views, 0 Comments
While certain cities around the world could be at risk of another housing bubble it appears Chicago will be spared this time around. A recent report compiled by Swiss Bank UBS looked at 18 cities from Vancouver to Singapore and even New York, with Chicago coming in at the very bottom, the only city on the list found to have undervalued homes.
In case you haven't noticed, temperatures have already started to cool down here in downtown Chicago, and the leaves are finally beginning to change color. Although it's impossible not to love summertime in Chicago, the autumn season also brings about plenty of fun-filled events and festivals that are worth checking out. So with the month of October right around the corner, it's time to take a closer look at what's happening around town next month!
Increasing home prices in Chicago mark some of the highest increases in the country. That’s according to the most recent S & P Case-Shiller Home Price Indices released for the period of June to July of this year. According to the report, the Chicago area came in at number two when it comes to the nation’s strongest monthly increases, trailing only behind Portland.
While mortgage rates are currently low, prospective homeowners still likely need to meet a certain income threshold in order to afford a home. According to the mortgage information website of HSH.com, that’s currently $52,700 per year. Based on HSH research that is what’s necessary to be able to pay for a home worth $240,700, the national median price of homes.