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 […]
Housing demand continued to be strong into the end of the year as December sales were up double digits year-over-year after sales were up 9% last December. It was the highest December sales since the housing boom year of 2006. From the Illinois Association of Realtors: In the city of Chicago, home sales (single-family and […]
We’ve been chattering about the low inventory in parts of Chicago for a couple of months. But now, Dennis Rodkin at Crain’s, is reporting that Chicagoland inventory is just 1.8 months, which is the lowest in 13 years. From Crain’s: The market is so tight now that “the only homes that aren’t selling are overpriced […]
The Illinois Association of Realtors is out with the November sales data. And despite a surge in the coronavirus throughout the state, sales were hot once again. Or were they? The city of Chicago saw year-over-year home sales increase 17.6 percent with 1,965 sales in November, compared to 1,671 a year ago. The median price […]
The Illinois Association of Realtors is finally out with the October home sales results after having some database and technology issues. The market remained red-hot this fall. The city of Chicago saw year-over-year home sales increase 21.9 percent with 2,541 sales in October, compared to 2,084 a year ago. The median price of a home […]
Crain’s is reporting on the third quarter rental market and, as expected, it’s not good for landlords. The downtown occupancy rate fell to 87.1 percent in the third quarter, down from 93.8 percent a year earlier, according to the Chicago office of Integra Realty Resources, a consulting and appraisal firm. The rate has never been […]
The September housing data is out. Last year’s September was the slowest in 8 years so it’s not a surprise that 2020 saw a rebound. However, the hot pandemic market from the summer looks to be continuing into the fall as sales were the highest in 14 years, and that includes the 2007 “housing bubble” […]