Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

A new apartment development in Bucktown will soon be opening and it will bring a neighborhood amenity with it.

Aldi will be re-opening in their location at 1753 N. Milwaukee Avenue on June 15. It was previously located in a single story strip-mall style building but will now be part of a development adjacent to the popular 606 trail with 100 rental apartments and 18,000 square feet of grocery store.

Read more at DNAinfo Chicago here.

Like cool grays for decorating your home? You're not alone.

A new study from Zillow indicates that picking the right paint color can have a noticeable impact on the sale price of your home. In order to make the determination, they compared over 32,000 photographs of homes sold in the country over a seven-year period and compared them to homes sold with white walls. 

The result? Homes with shades of light blue and light gray on the walls sold for more than expected, some times thousands of dollars more.

Read more at Chicago Agent Magazine here.

More good news for home owners and sellers: March saw a 5.8 percent annual gain year-over-year on national home prices, according to the latest report from the S&P CoreLogic Case-Shiller U.S. National Home Price Index.

That's up from the 5.7 percent increase reported in February. 

“Home prices continue rising with the S&P Corelogic Case-Shiller National Index up 5.8% in the year ended March, the fastest pace in almost three years,” David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, said in a statement published in Chicago Agent Magazine. “While there is some regional variation, prices are rising across the United States. Half of the 20 cities tracked by the S&P Corelogic Case-Shiller indices rose more than 6 [percent] from March 2016 to March 2017.”

Read more at Chicago Agent Magazine here.

Demand is picking up among first time buyers which means that new home sizes are also on the decline, according to the National Association of Home Builders (NAHB).

The median square footage of new construction homes decreased in the first quarter of this year to 2,389 , from 2,440 in the fourth quarter of 2016. Average square footage also declined from 2,628 to 2652 in the same periods.

But higher up the spectrum, the average size of single family homes increased, up 10 percent from the lowest point in the cycle with the median up 14 percent.

Read more at Chicago Agent Magazine here.

The average U.S. house is now worth more than it was at the peak in 2007, a high mark on the real estate recovery.

According to the latest market information, the median home value in the U.S. is $198,000, 1 percent more than the year before and an increase over the peak price of $196,600 set in April 2007.

“We aren’t in a bubble and won’t be entering one anytime soon,” Zillow Chief Economist Dr. Svenja Gudell said in the report.

Read more at Chicago Agent Magazine here.