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 […]
The painting of brick, both interior and exterior, has always been controversial on the Internet. There are those who say you should NEVER do it. Others think it’s fine as long as you’re aware of the added maintenance involved. Homeowners have been painting brick in the Georgetown neighborhood in Washington DC for years. I was […]
Sorry, but some family things have come up this week and there’s no way for me to get to Crib Chatter. Therefore, I’m taking the week off. I’ll leave you with some of the inventory numbers from the GreenZone. Chicago inventory remains among the lowest of any major city. Lincoln Park: 1989 Lakeview: 192 Bucktown: […]
The IAR is out with March data. The Chicago market still remains unbalanced. Inventory is at another low going back to 2008. As a result, sales fell again. The city of Chicago saw an 18.9 percent year-over-year home sales decrease in March 2024 with 1,790 sales, down from 2,208 the year before. The median price […]
The February data is out from the Illinois Association of Realtors. Spring buying season appeared to start early this year due to the mild winter weather. Sales were up from last year, even with mortgage rates over 6%, as median price was at a 27-year high. From the Illinois Association of Realtors: The city of […]
Inventory has been near record lows in Chicago for months. This impacts home sales. You can’t buy what isn’t on the market. January sales fell to the lowest levels since 2011, which was near the bottom of the housing bust. From the Illinois Association of Realtors: The city of Chicago saw a 3.4 percent year-over-year […]
The Illinois Association of Realtors is out with the December 2023 data. Inventory remained near record lows but the year-over-year sales declines appear to be easing as sales were up in December. The city of Chicago saw a 1.6 percent year-over-year home sales increase in December 2023 with 1,470 sales, up from 1,447 in December […]