Found 3 blog entries tagged as Chicago Condo Market Update.

Chicago condos helping local real estate Although the end of the year and the holidays typically marks a slow real estate season, the Chicagoland area saw its home sales rise at this time, helped by a strong surge in Chicago condo sales.

Helping drive demand was a remarkably low inventory for Chicago condos, townhomes and single-family homes. In fact, the year ended with only a 2.7 month supply of townhomes and condos and only a 3.7 month supply of single-family homes. 

Although low inventory is a sign of a strong housing market as it shows that buyers are acting swiftly and buying up homes and condos that are for sale, too low of an inventory can shift the market too far into a seller’s market. The good news is that inventory levels of Chicago condos and townhomes are expected to tick…

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Chicago condos dataThe Chicago housing and condo market continues to grow due in part to limited inventory, high demand and consistent activity. According to recent data analysis from the Illinois Association of REALTORS®, the nine country Chicago Primary Metropolitan Statistical Area saw sales of condos and single-family houses up 9.6 percent in October on a year-over-year basis.

Taking a more focused look at the data, we see that Chicago itself continued to see a steady rise in home sales and prices with a 7.5 percent year-over-year increase in home sales in October and a 24.9 percent increase in median home prices over that same period of time.

What this means is that demand is still very high for new condos in the greater Chicago area. With inventory low, this…

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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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