Urban Real Estate

Important Details on the Chicago Housing Market

Important Details on the Chicago Housing Market

Chicago Agent Magazine recently delved into the market data for the city and its suburbs and came up with some important details to note.

• Sales are flat: across the region they increased only .1 percent year over year as of September.

• But prices are up: across the region, the median home price rose 5.1 percent.

• Results varied widely by County: Kane and McHenry price increases were the highest.

• Sales volume in the city declined substantially but prices were up and market time was down.

• The suburbs were slow too, with a few notable exceptions, including Orland Park's eye-popping 75.9 percent yearly increase.

• Housing inventory continues to fall: year over year it's down over 15 percent from its already historic low.

The experts suggest that the presidential election may be contributing to the declining sales numbers.

Read more at Chicago Agent Magazine here.