Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Chicago is currently leading almost the entire nation in construction, with a record number of cranes at work in the city.

According to an article in the Wall Street Journal, the city has 56 active tower cranes at work, second only to Seattle's 62. Late last year, Mayor Rahm Emmanuel said the cranes were working at a post-recession record.

33 new buildings currently under construction in the city are expected to bring more than 6,000 new rental units to market this year.

Read more at Curbed Chicago here.

Home sales and prices both surged in the month of February, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. 

The month saw a total of 592,000 sales, up 6 percent from the previous month and 12 percent from the previous year. Inventory is also up across the country, with a 6.1 percent increase from January 2017.

Read more at Chicago Agent Magazine here.

The latest numbers are in for Chicago's suburbs and Aurora nabbed the top slot, with 122 sales and a median sale price of $175,000.

Naperville took second place with 111 sales and a median sale price of $344,450 and Plainfield was third with 93 sales and a median sale price of $220,00.

Read more at Chicago Agent Magazine here.

How do you get to know a neighborhood before deciding to make it your home?

Walk the neighborhood, grab lunch, and even go through during odd hours and garbage pick-up, just to get a better sense of where you'll be living, entrepeneur and real estate mogul Sidney Torres, host of CNBC's "The Deed", discusses.

Urban Real Estate brokers often urge clients to do the same if they are moving to new neighborhoods, especially if moving from the suburbs to the city, or from one neighborhood to a totally different part of town.

Check out CNBC's video and article with sound tips to consider before making a new neighborhood yours. 

The latest numbers are in and the top selling neighborhood in Chicago for the month of February was the Near North Side, which saw a total of 165 sales and a median price of $425,000.

It was followed by Lincoln Park with 96 sales and a median price of $537,000 and West Town with 78 sales and a median price of $447,000.

For single family homes, Ashburn was first with 31 sales, followed by Ausin with 28 sales and Dunning with 22 sales.

Read more at Chicago Agent Magazine.