It’s December in Chicago. This is a slow month for real estate in Chicago. Many homeowners are waiting to sell in the spring market which now begins in early January. They are enjoying the holidays with family and friends and don’t want their home life disrupted by home buyers. But there is slow, and there […]
The Illinois Association of Realtors is out with the latest data. Sales bounced off last year’s lows but inventory continued to fall. And last year was a record low for inventory. From the IAR: The city of Chicago saw a 3.1 percent year-over-year home sales increase in October 2024 with 1,688 sales, up from 1,637 […]
Chicago’s September sales fell 12% as inventory remains low. It was the lowest number of sales since 2011, which was during the housing bust. (The picture above was actually taken in October 2011 in Lincoln Park.) From the Illinois Association of Realtors: The city of Chicago saw a 12.0 percent year-over-year home sales decrease in […]
The Illinois Association of Realtors is out with the August 2024 data. The Chicago market remained extremely tight with inventory and sales falling again. “The city of Chicago saw a 7.1 percent year-over-year home sales decrease in August 2024 with 2,083 sales, down from 2,242 in August 2023. The median price of a home in […]
The biggest story with Chicago housing in 2024 hasn’t been the slow sales, but the inventory decline. In July 2024, inventory dropped again, even as it rose statewide. From the Illinois Association of Realtors: The city of Chicago saw a 5.3 percent year-over-year home sales increase in July 2024 with 2,161 sales, up from 2,052 […]
The Chicago market remains tight, with low inventory. But June sales have now dropped to housing bust levels. From the Illinois Association of Realtors: The city of Chicago saw a 15.0 percent year-over-year home sales decrease in June 2024 with 2,235 sales, down from 2,630 in June 2023. The median price of a home in […]
This is the first time in a decade that a condo building is not under construction in downtown. We shouldn’t be surprised, then, that apartment to condo conversions are starting. The second one of the year was just announced last week and the sales center is about to open shortly. It is Chateau on Wells […]
The Illinois Association of Realtors is out with the May 2024 home sales data. Sales remain low in Chicago as inventory continues to decline. It was the slowest May since May 2020, which was impacted by the covid pandemic. However, with such a tight market, median price is still on the rise. But note, that […]
We’ve chattered recently about how there are no new condo towers going up downtown. There are some that have finished construction, but none that are going up. That’s the first time in a decade. Additionally, the downtown market has seen many older condo buildings “de-convert” back into apartments. This is the opposite of what we […]
The April sales data is out from the Illinois Association of Realtors. Inventory remains near record lows in Chicago. But sales appear to have bottomed for this cycle as they jumped 5.5% year-over-year in April. The city of Chicago saw a 5.5 percent year-over-year home sales increase in April 2024 with 2,189 sales, up from 2,074 […]