Market Stats

CHICAGO REAL ESTATE UPDATE – Spring has Sprung

February 13, 2011

It’s one week after the Superbowl (and the oft-talked about commercials), and true to form, the Chicago real estate market is heating up. (Yes, and we’re experiencing a bit of spring weather, too – it’ was 41 degrees, according to my car and weather.com says it’s 46 degrees in Lincoln Park today!) Superbowl kicks off [...]

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Lakeview Three Bedroom Sales

December 22, 2010

In looking at the popular 3 bedroom condo market in Lakeview, one notes that prices have declined similarly to the Chicago real estate market. The following charts include data for July-December sales in each year. Units closed have also declined. So what does this mean for buyers and sellers? This data doesn’t mean that all [...]

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CHICAGO REAL ESTATE SALES THROUGH OCT 2010

November 30, 2010

NAR reports national real estate figures… IAR reports Illinois state real estate information… CAR reports news of Chicago and aggregates news for its members… I find that these numbers, while interesting, don’t give a full picture of Chicago’s real estate market.  We’re a city of neighborhoods, and as a professional practice, I am forever analyzing [...]

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CHICAGO SINGLE FAMILY HOME SALES WAY DOWN IN JULY

August 3, 2010

Prompted by NAR’s news that pending home sales in June were way down, I went back to check July homes closed… Chicago single family home sales* were indeed way down – 40 homes closed in July was about 50% of the previous month, 35% of July 2009 and 55% of July 2007. Ouch! So how [...]

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ARE CHICAGO CONDO SALES FINALLY HEALTHY?

July 13, 2010

Chicago real estate, particularly condo sales, have been hit by the recession.  At one point, the glut of condos on the market exceeded 2  years worth of inventory.  Condo sales lagged, priced dropped, and it was a buyers’ market all around. In June, however, condo sales were great!  On Chicago’s north side*, 825 units closed.  [...]

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Chicago Condo Sales 2010 — How are we doing so far?

March 19, 2010
Chicago condo sales through Feb 2010

There is just about one month left in the federal home buyer tax credit program — $ 6500 – $ 8000 in tax savings if you buy by April 30 and close by June 30. How is the home buyer tax credit program affecting condo sales in Chicago?  In a nutshell – Sales are better [...]

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How do Chicago home price declines compare to the suburbs’?

January 18, 2010

I have a suburban client contemplating a cr0ss-country move, and like everyone else who bought 2-5 years ago, he’ll be taking a loss on his home.  In negotiating his relocation package, he contemplated how this loss would compare to what he’ll gain by buying in his new city. Did home prices decline as much there [...]

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Best Time to List Your Home for Sale

January 10, 2010

Traditionally, Chicago’s real estate market kicks off after the Super Bowl.  Our market is usually busiest between February and April — ahead of the suburban market. Why?  Probably because of the traditional May 1 – Oct 1 lease renewal dates.  Why and how that started is a mystery to me, but it makes sense that [...]

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Prudential Rubloff Leads Lakeview Home Sales

January 8, 2010

In preparing a listing appointment this week for a Lakeview Single Family Home seller, the market data was interesting… 1.  Prudential Rubloff does about twice the single family home business in the Lakeview Neighborhood. 2.  The market is looking more healthy — with 92 active listings and 63 sales in the last 6 months, we [...]

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Edgewater Home Sales – 2009

December 31, 2009

Single Family Home Sales were up in 2009 — 44 houses sold this year vs 40 in 2008.  During this time, median home prices dropped.  The average home price was $ 547,500 — a 6.5 % drop from the previous year. See Homes for sale in Edgewater To see homes for sale in Edgewater or [...]

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