The March sales numbers are out. While the market remains hot, inventory is still tight. Many are blaming the tight inventory on the year over year decline in sales. From the Illinois Association of Realtors: The city of Chicago saw a 3.4 percent year-over-year home sales decrease in March 2016 with 2,099 sales, down from […]
The Wanda Vista hotel and condo tower in Lakeshore East has been approved and is moving forward. A sales center recently opened up downtown. This is not a small building. At 93-floors, it will be the third tallest in the city. The condo portion of the building will have 406 residences. The prices will range […]
February sales data is out. Sales rose only 2.1% year over year, while the median price skyrocketed. However, it was still the hottest February for sales since the boom year of 2007. From the Illinois Association of Realtors: The city of Chicago saw a 2.1 percent year-over-year home sales increase in February 2016 with 1,528 sales, […]
The January home sales are out. As expected, January sales were up year over year. That is actually a triumph because January sales the last 2 years have been depressed due to polar vortexes and all around nastiness. Weather this winter has been much improved allowing buyers to get out earlier. Remember, January closings usually […]
Inventory at 9-year lows in the city of Chicago, and prices are soaring in many neighborhoods, but not so in the Chicago suburbs, including some of the “prestige” suburbs like Burr Ridge, Lake Forest and Glencoe. From the Chicago Tribune: On Chicago’s Near North Side, Dr. Richard Green, a veterinarian, and his wife, Willie, a seventh-grade […]
The Illinois Association of Realtors is out with December 2015 sales data. The city of Chicago saw a 0.4 percent year-over-year home sales increase in December 2015 with 2,029 sales, up from 2,020 in December 2014. The year-end 2015 home sales totaled 27,439, up 7.8 percent from 25,461 home sales in 2014. The median price of […]
The Chicago Tribune reports on city dwellers who have kids and decide that they can’t make it work and have to move to the suburbs. Some of the transplants have an identity crisis. “I see this all the time with my practice,” said David Klow, owner of Skylight Counseling Center, which has offices in Chicago […]
It’s been several years of low inventory in Chicago across all spectrums of properties including single family homes, townhouses and condos. The result has been bidding wars and rising home prices along with really low market times. In the last few months of 2015, however, inventory slowly crept up and bidding wars have receded. From […]
Crib Chatter doesn’t cover much of what is going on in the rental market, but you’d have to be dead not to notice apartment rental tower after apartment rental tower going up all over the GreenZone. In 2015, developers were on track to deliver a record 3100 new apartments downtown. But they aren’t stopping there. […]
Developers are finally building mid-rise and high-rise condo buildings in Chicago again but nearly all of the new builds have been in the luxury price points. No.9 Walton in the Gold Coast is a good example of the type of new construction that dominated 2015. It will have just 66 units with the average size at […]