Archive for the 'Market Conditions' Category

Market Conditions: As Thousands of Apartments Come Online, Are Condo Landlords in Trouble in 2018?

We’ve been chattering for over a year about the dozens of luxury apartment high rises that have been built in the Green Zone and the implications of all those units. But the boom isn’t over yet. Thousands more apartments are expected to come online in the next two years. Crain’s reports: But the once-hot market […]

Market Conditions: October Sales Were Flat YOY as Inventory Remains Low

The Illinois Association of Realtors is out with the October sales data. It was actually a ho-hum month, not hot but not cold. The city of Chicago saw year-over-year home sales hold steady in October 2017 with 2,047 sales, compared to 2,046 in October 2016. The median price of a home in the city of […]

Chicago Market Conditions: September Sales Fall 3.7% YOY While Median Price Rises

The Illinois Association of Realtors is out with the September home sales. Sales have slipped from last year, which follows the trend that existed over the summer of weaker year-over-year sales. The city of Chicago saw a 3.7 percent year-over-year home sales decline in September 2017 with 2,309 sales, down from 2,398 in September 2016. The median […]

Chicago Market Conditions: Will Starter Condos Ever Again Be Built in the GreenZone?

In the decade before the 2008 housing bust, thousands of “starter” condos were built in the GreenZone neighborhoods of Chicago. By “starter”, I mean they were condos ranging in prices from $150k to $400k and ranged in size from studios to 2-bedrooms. Since the bottom of the bust in 2012, nearly all the new construction […]

Market Conditions: August Sales Fall 4.5% in Chicago: What’s to Blame?

The Illinois Association of Realtors is out with the August sales data. Yes, sales slowed at the end of the summer. The city of Chicago saw a 4.5 percent year-over-year home sales decline in August 2017 with 2,716 sales, down from 2,844 in August 2016. The median price of a home in the city of Chicago […]

Market Conditions: Could Chicago’s Housing Market Handle Amazon’s 2nd Headquarters?

Since Amazon announced it wanted to open up a second headquarters in North America, it has become like the quest to host the Olympic Games among major city (and some not-so-major) mayors and governors as they rush to put together the best “bid.” Amazon has requirements, however (sorry Gary, Indiana, Tulsa and others hoping to bid), including: At […]

Market Conditions: Chicago July Home Sales Fall 5.7% While Median Price Continues to Rise

The Illinois Association of Realtors is out with the July sales numbers. It’s more of the same. Low inventory and high prices appear to depressing housing sales. The city of Chicago saw a 5.7 percent year-over-year home sales decline in July 2017 with 2,621 sales, down from 2,780 in July 2016. The median price of […]

Market Conditions: June Sales Tumble 1.7% But Still Near 10-Year High

The Illinois Association of Realtors is out with the June numbers. It was another strong month as last year, June was the strongest since 2006. The city of Chicago saw a 1.7 percent year-over-year home sales decline in June 2017 with 3,266 sales, down from 3,321 in June 2016. The median price of a home […]

Crib Chatter is On Vacation: Open Post About June Sales and Market Conditions

I will be on vacation this week. But I know you are all DESPERATE to talk about the June sales numbers and tight inventory. So while I can’t post the numbers here in the post, I’m sure someone (er…Gary) will post them in the comments section. We know from Gary’s prior updates that June was […]

Market Conditions: Is a Glut Building in the Chicago Luxury Housing Market?

Luxury home sales were hot in the first half of 2017. This shouldn’t be surprising as the stock market continued to hit new all time highs. Usually, new highs in the stock market equals strong luxury home sales. From Crain’s: Sales of high-end homes in Chicago and the suburbs grew sharply in the first half […]