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 […]
The Illinois Association of Realtors is out with the November sales data. Inventory continues to decline in Chicago, the Chicago metro, and statewide. As inventory declines, sales have as well. But in November, sales didn’t quite sink to 2010 lows. The city of Chicago saw a 10.2 percent year-over-year home sales decrease in November 2023 […]
Crain’s is reporting on new downtown condo sales for 2023. This group mostly includes luxury units as few buildings are putting up new units under $1 million. There are a few exceptions like the Reed at Southbank in Printers Row, which is selling 2/2 units under $800k. But there are 4 big new luxury condo […]
Anyone who is out looking to buy a home in the Chicagoland area knows just how low the inventory is. Meanwhile, prices continue to hold up even as sales declined again year-over-year in October. It was the lowest October for sales since 2011, which was during the housing bust. From the Illinois Association of Realtors: […]
In September, home sales fell again as rates rose. It was the lowest number of sales since 2011. From the Illinois Association of Realtors: The city of Chicago saw a 11.3 percent year-over-year home sales decrease in September 2023 with 1,830 sales, down from 2,064 in September 2022. The median price of a home in […]