According to the Chicago Tribune, single men and women make up nearly half of all first time home buyers in Chicago. Percentage of first time homebuyers in Chicago who are: Married couples: 41% Single women: 31% Single men: 16% Unmarried couples: 9% Other: 2% Average home price for single men and women in the city […]
I missed the release of the February home sales which was out yesterday from the Illinois Association of Realtors. We’re seeing the same trends as were apparent in January, as sales have risen year over year but the median price continues to be weak. I wish the IAR would break out the sales according to […]
Normally I don’t post on the Case Shiller home price index numbers but December’s numbers showed a third straight decline for Chicago area single family home prices and the sharpest decline, of 1.6%, of any of the 20 cities from November to December. (Seasonally adjusted, it was still down 0.6%.) On the condo end of […]
Not surprisingly, 2009 wasn’t a great year for downtown condo developers. According to the Chicago Tribune, sales in the downtown market were pumped up by the first time home buyers credit and price reductions by developers. (“Downtown” is designated from North Avenue to Cermak Road to Ashland and Lake Michigan.) There were almost 1,900 closings […]
The Chicago Tribune reports that foreclosures continued to rise in Chicago and the metro Chicago area in the fourth quarter of 2009. Data is from the Woodstock Institute: Woodstock found that for Chicago, initial foreclosure filings increased by 10.2 percent, but the activity varied widely by neighborhood. Some of the largest percentage gains last year […]
We’ve already chattered about what happens to original owners in a high rise condo building after an auction when units sell at lowered prices which then sets the bar for prices in the entire building. Original owners in 222 E. Pearson, otherwise known as Pearson on the Park, in Streeterville are also about to find out […]
Crain’s must be reading our minds (or this blog) because this week it covers the very topic you all have been debating: when the Chicago housing market will bottom and/or recover. Chicago-area existing-home sales will begin rising again in 2011, hitting about 95,000 units in 2013, according to a forecast by Irvine, Calif.-based John Burns […]
A few months ago I said it would be at least a decade before another condo high rise was built downtown but apparently building them outside of downtown is a different matter. According to Crain’s, a Chicago developer is proposing a massive $350 million project just north of Montrose in Uptown. Sedgwick Properties Development Corp., […]
Sales in Chicago rebounded in December from the dismal December 2008 number but median price fell 10.6%. From the Illinois Association of Realtors: In the city of Chicago, December total home sales (single-family and condominiums) were up 39.8 percent to 1,768 sales compared to 1,265 homes sold in December 2008. The city of Chicago median […]
Camping out for condos wasn’t limited to California, Arizona and Florida during the height of the boom. It happened several times at various buildings, mainly in the South Loop, but also in River North where developers sold out some buildings within days in the early 2000s. Here’s a look at some of the frenzy. This is […]