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. […]
The Illinois Association of Realtors is out with the February 2021 sales data. The hot pandemic housing market continued in Chicago, the Chicagoland area and the entire state of Illinois. In the city of Chicago, home sales (single-family and condominiums) in February 2021 totaled 1,628 homes sold, up 8.8 percent from February 2020 sales of […]
The Illinois Association of Realtors is out with the January home sales data. The strong 2020 housing market appears to be continuing into 2021. From the IAR: In the city of Chicago, home sales (single-family and condominiums) in January 2021 totaled 1,670 homes sold, up 14.2 percent from January 2020 sales of 1,462 homes. The […]
In 2020, Chicago’s downtown was hit by both the coronavirus pandemic and the George Floyd looting and protests. Not only did tourists stay away, but renters fled downtown apartment towers resulting in the lowest occupancy rate in decades. Landlords were forced to slash rents and give out deep discounts, including 2 to 4 months free […]
Apparently, developers didn’t sell many new homes in Chicago in 2020. New homes are defined by Tracy Cross & Associates as a development with 10 or more units. It doesn’t include the single family home custom built in Southport. From Crain’s: Sales of new-construction homes in Chicago dropped to their lowest in 25 years in […]