We’ve been chattering about the low inventory for the last two months. Crain’s confirms that in some Chicago neighborhoods and suburbs, it is below 3 months. As of the end of 2012, the neighborhood with the lowest inventory level was the South Loop at just 2.3 months of supply. The number of listed homes fell […]
I almost forgot about the January home sales. Everyone knows it was a hot, hot, hot start to the year in Chicago. From the Illinois Association of Realtors: The city of Chicago saw a 32.2 percent year-over-year home sales increase in January 2013 with 1,485 sales, up from 1,123 in January 2012. The condo market in […]
The housing market is heating up in all directions as single family homes, condos and townhouses are selling briskly in a low inventory market and a plethora of new apartment buildings are under construction as people shun the buyers market and prefer to rent. We’ve been chattering about all the new apartment high rises for the last […]
At the height of the condo boom in Chicago, there were developers building buildings of all shapes and sizes who only several years before were in a completely different profession and who has little experience in the real estate industry. Is speculation ramping up again? Crain’s reports on the surge of plans for new apartment […]
Are you in a multiple offer situation on a property? Nearly everyone who writes me tells me that they are (in both the city and the suburbs.) Properties are going under contract within 24 hours. It also cuts both ways. They are getting multiple offers on their property they are listing to sell but they […]
After a one day delay (since the IAR released the data late yesterday)- it’s finally time to check in on the December 2012 sales. December continued the trend of 2012 which was rising sales with a rise in the median price (and we all know how the median price can be affected by the mix.) The city […]
I know some of you wanted to chatter about Bowmanville, but the level of activity there doesn’t come close to what is happening in East Humboldt Park. By “East Humboldt Park”, I’m talking about the area that is west of Western Avenue- all the way west to Humboldt Boulevard. It is north of Division and south of […]
We’ve chattered extensively about the new construction high rises going up in downtown Chicago. Some might have deja-vu with 2002-2006 except these are being marketed as apartments and not condos. As of September 2012, 3018 units were under construction with delivery expected in 2013 or 2014. (I couldn’t find more recent data about 2013- but […]