Found 2 blog entries tagged as Chicago condo sales.

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 Condo Sales UpChicago condo sales have been assisting the local real estate market with its recovery. In fact, this is the strongest the local real estate market has been since 2006 due to a surge Chicago condo sales in December. A combination of sales for attached and detached homes in the seven-county metro area were up 20% year-over-year, while the sales of attached homes climbed 23%.

According to MRED (Midwest Real Estate Data), the regional multiple listing service, there’s good news across the board when it comes to Chicago real estate. They found that sales prices are moving in tandem with the number of sales: up. In December, the median sales price of all homes sold was 5.5% higher than a year before. The median price for an attached home saw even greater…

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