It's a seller's market throughout Chicago but even within that context there are some neighborhoods that stood out as particularly competitive for buyers.
Chicago Agent Magazine crunched the numbers for July and found that the most competitive neighborhood in the city was the West Loop where the average time on the market for a property was a mere eight days.
Wicker Park and Logan Square were tied for second place with only 10 days of market time and right behind them was Ukrainian Village at 11 days.
For more, head here.
Mortgage rates have dropped again, to their lowest level since May.
According to Freddie Mac, the average rate on a 30-year fixed rate mortgage was 3.84 percent Thursday, down from 3.93 the week before, the lowest since May 21.
15-year fixed rates, meanwhile, dropped to 3.06 percent from 3.15.
The decline was driven at least in part by market turmoil that originated in China following that country's move to modestly devalue its currency.
Read more here.
According to a report out this week from RealtyTrac home sales in Chicago have hit at 8-year high.
In the first half of 2015 there were 43,009 sales in the Chicago-metro area. Not only does that number represent an 8-year high, but also a dramatic increase from 2008's sales number of 31,554. It's a total increase of 36.6 percent.
For more, including a chart of the 10 major metros, head over to Chicago Agent Magazine here.
The West Loop could soon be seeing some new high-end condos, if a developer is able to obtain approval for a zoning change.
Taris Real Estate, based in River North, hopes to build a 24 unit, 10-story, 130-foot condo building at 900 W. Washington Blvd., steps from the popular Fulton Market.
The project would include a mix of two, four and five bedroom condos, with a total of 23 parking spaces. They would be priced at the very high end with prices at $500 per square foot.
The project is currently making the rounds of neighborhood groups for approvals and perhaps suggested revisions.
For more, head over to DNAinfo here.
The new 22-story River North tower that is planned to replace the Chicago institution of kitsch, Ed Debevic's, is moving forward.
The Chicago Plan Commission approved the plan for the tower last week. From JDL development the tower will include 251 apartments and 12,000 square feet of retail space. It's designed by Hartshorne Plunkard Architects.
For more renderings, head over to Curbed Chicago here.
Mortgage rates have dropped again, to their lowest level since May.
According to Freddie Mac, the average rate on a 30-year fixed rate mortgage was 3.84 percent Thursday, down from 3.93 the week before, the lowest since May 21.
15-year fixed rates, meanwhile, dropped to 3.06 percent from 3.15.
The decline was driven at least in part by market turmoil that originated in China following that country's move to modestly devalue its currency.
Read more here.
According to a report out this week from RealtyTrac home sales in Chicago have hit at 8-year high.
In the first half of 2015 there were 43,009 sales in the Chicago-metro area. Not only does that number represent an 8-year high, but also a dramatic increase from 2008's sales number of 31,554. It's a total increase of 36.6 percent.
For more, including a chart of the 10 major metros, head over to Chicago Agent Magazine here.
The West Loop could soon be seeing some new high-end condos, if a developer is able to obtain approval for a zoning change.
Taris Real Estate, based in River North, hopes to build a 24 unit, 10-story, 130-foot condo building at 900 W. Washington Blvd., steps from the popular Fulton Market.
The project would include a mix of two, four and five bedroom condos, with a total of 23 parking spaces. They would be priced at the very high end with prices at $500 per square foot.
The project is currently making the rounds of neighborhood groups for approvals and perhaps suggested revisions.
For more, head over to DNAinfo here.
The new 22-story River North tower that is planned to replace the Chicago institution of kitsch, Ed Debevic's, is moving forward.
The Chicago Plan Commission approved the plan for the tower last week. From JDL development the tower will include 251 apartments and 12,000 square feet of retail space. It's designed by Hartshorne Plunkard Architects.
For more renderings, head over to Curbed Chicago here.