The Illinois Association of Realtors is out with the August sales data. The market cooled from last year’s 4-year high. Chicago home sales (single-family and condominiums) in August 2021 totaled 2,831 homes sold, down 1.4 percent from August 2020 sales of 2,870 homes. In the city of Chicago, the median price of a home in […]
Last year, the story line being told about all the major cities, was that “the city” was doomed due to COVID fears, the BLM protests and riots and the ability of the professional workers to work-from-home, including working from anywhere in the country. In Chicago, downtown condo sales, and prices, plunged and the rental towers […]
The July data is out from the Illinois Association of Realtors and July continued the hot streak in Chicago’s housing market. In the city of Chicago, home sales (single-family and condominiums) in July 2021 totaled 3,273 homes sold, up 17.2 percent from July 2020 sales of 2,793 homes. The median price of a home in […]
The Sun-Times took a look at the soaring single family home prices in the neighborhoods this week and wondered whether the middle class would be able to stay in Chicago and buy a home. From the Sun-Times: “It’s heartbreaking to an extent that even someone like myself is being priced out of the area as […]
The bull housing market just keeps charging along in Chicago as inventory remains tight and buyers are still in the market in decade high levels. From the Illinois Association of Realtors: In the city of Chicago, home sales (single-family and condominiums) in June 2021 totaled 3,767 homes sold, up 81.8 percent from June 2020 sales […]
While Chicago housing sales have jumped to 15-year highs city wide, one of the slowest neighborhoods has been downtown. Downtown was the epicenter of the looting/protests and pandemic shutdowns over the last year with many restaurants and retail stores shut or boarded up during this time. Was it “over” for downtown? How many years would […]
The Illinois Association of Realtors is out with the May sales report. Yes, the market is still red hot, with the highest number of May sales since 2008. Just a reminder: year-over-year comparisons will be skewed due to the plunge in sales in May 2020. Last year, sales crashed 43.6% compared to May 2019 due […]
We have an update on the first quarter luxury apartment rental market and it’s a doozy. Defying experts who believed it would take until 2023 for occupancy, and rental prices, to re-take pre-pandemic levels, the Chicago Class A luxury rental market has come storming back in 2021. Crain’s reports: In one sign of the market’s […]
The Illinois Association of Realtors is out with the April market stats. It was another red-hot month, even ignoring year-over-year comparisons. Just a reminder, last April saw sales fall 22.2% to the lowest in 8 years (since the 2012 bottom in the housing bust) due to the first coronavirus lock down and restrictions. In the […]
The Illinois Association of Realtors is out with the March sales. We already know from Gary’s updates on his blog that March was red-hot. But what you might not remember was that LAST March was also strong, with the median home price rising 10%. Last spring’s housing market was already heating up before COVID hit. […]