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.
A kitchen remodel at your Chicago luxury home can offer one of the biggest return on investments, but if you’re not careful, you’ll end up with a laundry list of things you wish you had done differently. Here’s a look at the four most common kitchen remodeling mistakes to be aware of. Avoid these, and you’ll be living in the lap of luxury in no time!
When you think of Chicago luxury dining, barbecue probably isn’t the first thing that comes to mind. But as more and more barbecue restaurants up the ante on their offerings, it’s quickly becoming one of Chicago’s hottest dining trends. Look out Kansas City, Memphis and the Carolinas...Chicago is ready to give you a run for your money! Here’s a look at some of the barbecue restaurants around town that have Chicago condo home owners hanging up their aprons and indulging in a flavor-packed meal.
Recent reports indicate that Chicago is among the list of the world’s most expensive cities for luxury real estate. Billionaires continue to break records as they purchase mansions, estates, townhomes, and even condos in major housing markets from London to Malibu and all points in between.
Pet parents who also travel for business are often faced with the tough task of dropping off their dog or cat for boarding while they're away. The thought of leaving their beloved four-legged family member in an unfamiliar place, or worse, a crate, can cause a lot of anxiety and guilt. Fortunately, Chicago luxury home owners have another choice thanks to Paradise 4 Paws billed as "Chicago's premier resort for cats and dogs.”
If you have been considering purchasing a Chicago condo or home, experts say now is the time! After years of declining prices in the Chicago area, home values are finally headed back up again. Zillow chief economist Stan Humphries adds, “We think Chicago has hit bottom.”
Most people have a hard time getting through the day without their smartphones, so it comes as no surprise that more and more home shoppers are using smartphones and real estate apps to help them with their search for the perfect Chicago condo. At one point, there seemed to be a new real estate app everyday, but the pace has slowed somewhat. Still, there are a bevy of useful real estate resources that will help you find the Chicago home of your dreams! Here’s a quick look.