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What Do the Latest Numbers Tell Us About the Chicago Market?
Manage episode 178232306 series 1419367
Leo Goykhman에서 제공하는 콘텐츠입니다. 에피소드, 그래픽, 팟캐스트 설명을 포함한 모든 팟캐스트 콘텐츠는 Leo Goykhman 또는 해당 팟캐스트 플랫폼 파트너가 직접 업로드하고 제공합니다. 누군가가 귀하의 허락 없이 귀하의 저작물을 사용하고 있다고 생각되는 경우 여기에 설명된 절차를 따르실 수 있습니다 https://ko.player.fm/legal.
Home values in Chicago have increased since last year, which puts us in a seller’s market.
Looking to buy a Home in Chicago? Search all Chicago homes for sale. Selling Your Home in Chicago? Use our home evaluation tool.
Looking to buy a Home in Chicago? Search all Chicago homes for sale. Selling Your Home in Chicago? Use our home evaluation tool.
What’s the latest update on our Chicago market? Let’s take a look at some stats from Illinoisrealtor.org.
The median sales price for 2017 is $246,000, which is higher than the 2016 median sales price of $236,000. Since 2016, inventory of homes for sale is down 10%, and the average days on market has also decreased nearly 7%. The average listing price is expected to climb 1.95% in 2017.
Based on recent trends, Geoffrey Hewings predicts it will take 1.2 to two years for Chicago area homes to reach their peak-2006 values again.
Given all the recent developments,
Chicago is a seller’s market.
Chicago is a seller’s market.
The average home price in Lincoln Park, one of the more stable areas north of the Loop, didn’t decline as much after the crash. It actually climbed 30%, bringing the median price of a single-family home up to $1.9 million in the third quarter, according to the Chicago Association of Realtors. That’s compared to a pre-crash 2006 peak of $1.4 million, according to Chicagotribune.com.
Overall, given that home values have gone up 8% in the past year, Chicago is a seller’s market.
If you have any questions, please feel free to shoot me an email or give me a call. I’d be happy to help you.
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