Redfin recently put out data indicating which housing markets are cooling the most, and the least. Seattle, as you might imagine, is one of those cooling the most now that rates have hit 7%. Seattle’s median price is high and many buyers are now priced out. But in Chicago, and the Midwest, in general, housing […]
The Illinois Association of Realtors is out with the July data. We knew it was going to eventually slow as the mortgage rates rose. But boy, did it slow in July. In Chicago, home sales (single-family and condominiums) in July 2022 totaled 2,426 homes sold, down 27.6 percent from July 2021 sales of 3,350 homes. […]
We’re finally seeing a cooling in the red hot Chicago housing market thanks to higher mortgage rates. From the Illinois Association of Realtors: The median price of a home in the city of Chicago in June 2022 was $367,000, a 4.7 percent increase from June 2021, when it was $350,500. In Chicago, home sales (single-family […]
The Illinois Association of Realtors is out with the May market report. Chicago remains a robust market even as mortgage rates rise. It was the second best May for sales in the last 14 years. From the IAR: In Chicago, home sales (single-family and condominiums) in May 2022 totaled 3,299 homes sold, down 4.5 percent […]
Those who bet against America’s biggest cities 2 years ago when the pandemic hit are looking rather foolish right now. New York City rents have surged to all-time highs of $4,000 a month while home sales have rebounded in every major city. In Chicago, both luxury apartments and luxury sales remain red hot despite the […]
The Illinois Association of Realtors is out with the April data and the market remains strong despite rising rates. In Chicago, home sales (single-family and condominiums) in April 2022 totaled 3,181 homes sold, down 5.3 percent from April 2021 sales of 3,360 homes. The median price of a home in the city of Chicago in […]
The Illinois Association of Realtors is out with the March data. As we already know from Gary’s data, March sales did finally show a year-over-year decline, but last March was the hottest March of the last 25 years with the exception of 2006. That means March 2022 was the third hottest March since 1997. From […]
February sales remained red hot in Chicago as inventory continued to be at multi-year lows. Only 2005 was hotter for sales over the last 25 years. From the Illinois Association of Realtors: In Chicago, home sales (single-family and condominiums) in February 2022 totaled 1,879 homes sold, up 13.3 percent from February 2021 sales of 1,658 […]
We already knew from Gary’s blog that January was going to be another strong month. (Thanks for all the great info Gary.) You can read his blog here. Chicago’s housing market remains red hot with sales still rising and inventory falling. There’s no doubt, it’s a seller’s market. From the Illinois Association of Realtors: In […]
The Illinois Association of Realtors is out with the December 2021 market update. As we already know from Gary’s posts on this blog, it was another strong month. From the IAR: In the city of Chicago, home sales (single-family and condominiums) in December 2021 totaled 2,392 homes sold, up 5.5 percent from December 2020 sales […]