The Chicago Tribune profiles Lincoln Park this week in its “Community Intelligence” article in the Real Estate section. It includes some information on the market conditions in the neighborhood. While sales volume is down and property sits on the market longer, values are still rising, said Jim Kinney, president of Rubloff Residential Properties. Units on […]
Crain’s reports on the second quarter construction loan delinquencies. The article includes a great chart showing the delinquency rates back to 2000. The delinquency rate for construction loans in the Chicago area hit 10.8% in the second quarter, up from 8.4% in the first quarter and 2.6% in the year-earlier period, according to Foresight Analytics LLC, […]
As has been reported, the July sales numbers are out for Chicago. Median home price is holding pretty steady. In the city of Chicago, sales fell 20.9 percent to 2,167 from 2,738, and the median price dipped 0.3 percent to $299,000 from $300,000. Chicago area home sales drop, prices slide (Sun-Times, Aug 26, 2008)
The Sunday Tribune had some interesting information on Chicago foreclosure rates and existing inventory numbers. On the foreclosure rates: Foreclosures in Chicago in July rose by 84 percent over their level in the same month two years ago. In the 60611 ZIP code on the city’s Near North side, for instance, the number of foreclosures filed […]
Gosh- a lot happens when I’m out of the loop for just a few days. Thanks to G and others who posted the new downtown condo sales info in a prior thread (with links to the Crain’s article.) I’m reposting it here for further discussion because of the implications for the overall market from these sales numbers. These […]
The Chicago Tribune has an article in its Chicago Homes section today about how difficult it has become to get mortgages. As we’ve chattered about, the banks are requiring larger downpayments, among other things. Even the rich are having more difficulty getting loans and have to come up with more cash. This raises questions regarding […]
The second quarter sales numbers are out from the Illinois Association of Realtors. Sales (both single family and condos) were down in the 9-county Chicagoland area by 28.9% to 20,679 from 29,092 in the same period a year ago. The median home price fell 2.3% to $250,000 from $256,000 in 2007. Condo sales fell more […]
Zillow is out with a nationwide report on home prices. Prices fell 7.3% in the Chicago area (an 8-county area, including Northwest Indiana) in the second quarter compared to 2007. Zillow reports that a third of all homes sold in the Chicago area in 2006 and 2007 are now underwater (meaning the owner owes more on the […]
The Chicago Tribune highlights Streeterville in its Friday Home section. (It does a different neighborhood or city every week.) Prices in the neighborhood: In the northern tier, with its wide array of older stock from classic to modernist, condos of all sizes sold for an average of $801,875 in the second quarter. In the mid-section, […]
The Illinois Association of Realtors is out with the June sales numbers for the 9-county Chicagoland area and the full state. There is no City of Chicago specific data. From the Illinois Association of Realtors: Total home sales (which include single-family and condominiums) were up 3.6 percent in June 2008 to 11,643 sales compared to […]