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The latest numbers are in and the top-selling neighborhood in the city for the month of June was the Near North Side, with 351 total sales. Following were West Town with 239 total sales and Lincoln Park with 193 total sales. As usual, when condo sales are removed from the mix, the leaders shuffle. The most single family homes sold last month were in Norwood Park with 57 total sales. Ashburn followed with 53 sales and Portage Park with 46...
The report out from the Case-Shiller Home Price Index shows that while Chicago is sluggish compared to other cities, home prices continue to rise. The price growth in the report was 2.2 percent on the year but the monthly increase was stronger, the 1.3 percent monthly increase was just behind the nation's leader, Boston, at 1.5 percent...
The latest report on Chicago's top-selling suburbs has a few surprises in it. While the usual top-sellers, Naperville, Aurora and Plainfield remained in the top spot in June with 328, 283 and 191 sales respectively, Naperville took first place for the first time this year. Naperville secured the top slot over Aurora due to its 33.3 percent increase in sales from the previous month. One of the notable parts of the report was the sales uptick in Evanston...
That's a question confronting sellers and buyers in the current fast-paced market in Chicago. Across the country, selling time has been declining steadily as the housing market recovers and while Chicago's median is at 54 days, in some hot neighborhoods "flash sales", where houses go under contract as soon as they are listed, have also been on the rise...
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Another day, another piece of great news for the local housing market. Illinois home sale prices posted their largest year-over-year increase in nearly two years, according to the Illinois Association of Realtors. Home prices rose 14.2 percent compared with June 2014, the largest since September of 2013. Selling time across the state has also dropped from 68 days last year to an average of 63 days this year. In the city, total sales volume climbed 9.3 percent to 3,110...
Up and coming young people are starting to eye home ownership - their preferences are important, not only for agents, but also for home owners looking to down size or move up. According to a new study, 68 percent of first time homebuyers are looking for move-in ready homes, while 32 percent are looking for fixer-uppers. The good news for suburbia is that 43 percent are looking to buy there, but a strong showing of 20 percent plan to buy in urban areas...
In another sign of health for the housing market, cash sales as a percentage of total sales declined in April over the previous year both nationally and in Chicago. Pre-crash, the average number of cash sales was around 25 percent. That's a benchmark analysts have been watching the market to return to before declaring full normalcy. In Chicago, cash sales in April stood at 33.4 percent, down from 37.2 percent in 2014. Nationally, the number tracks well with Chicago, to 33.
The westernmost of three planned towers for Wolf Point has topped out , according to the Chicago Architecture Blog. The tower has reached its planned height of 493 feet and its exterior skin has reached nearly that height. For photos and more, head here . And, while the westernmost tower is under construction, new renderings have begun to circulate of the two other towers that will hug the Chicago River at the confluence of the North and South Branches.
The numbers are in and the most competitive housing markets for the month of June in the city of Chicago based on the average number of days it takes to sell a property are: 1. West Loop, 9 days on the market 2. Ukrainian Village, 10 days on the market 3. Logan Square, 11 days on the market 3. Wicker Park, 11 days on the market The neighborhoods shuffle around a bit when adjusted for overall inventory numbers with all of them in an extreme sellers' market...
CoreLogic's latest report shows more good news for the improving and normalizing Chicago real estate market. The foreclosure rate in the market fell one percentage point year over year in May to a total rate of 1.9 percent while delinquency rates also dropped, from 5.1 percent to 4.4 percent. The state as a whole saw foreclosures fall .8 percent. For more, head over to Chicago Agent Magazine here .
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While the westernmost of a trio of planned towers for Wolf Point is under construction, new renderings have begun to circulate of the two other towers that will hug the Chicago River at the confluence of the North and South Branches. The Chicago Architecture Blog revealed a stunning rendering of the glass clad towers by architects Pelli Clarke Pelli. The new design slims and heightens the south tower and could push it's height up above the planned 900 feet...
Marina City, the famed residential twin towers adjacent to the Chicago River in Downtown Chicago have been granted preliminary landmark status from the city. The new status, if eventually approved by the city council, will protect the buildings from alteration but could also make a variety of tax incentive programs available to homeowners in the building...
Home sale prices continued their streak in May, increasing for the 39th consecutive month, according to a new report out from CoreLogic. In Chicago, including distressed sales, prices increased 3.8 percent since May 2014. Excluding distressed sales, the number was 5.3 percent. For the full report, head over to Chicago Agent Magazine here .
Inventory shortage has created a dramatic sellers' market in Chicago that is causing developers to take a second look at two-flats. Crain's Dennis Rodkin has a report out today that several neighborhoods on the city's North Side are ground zero for two-flat to single-family home conversions. Those neighborhoods include Andersonville, North Center and Lincoln Square...
More good news today from the Standard & Poors Case-Shiller Home Price Index; Chicago's pricing are up. The index reports that homes in the metro area climbed 1.1 percent from March to April and 2.5 percent over the previous year. For more, head over to Chicago Agent Magazine here .
The National Association of Realtors is reporting that pending home sales have reached a 9-year high, yet another sign of the market's recovery. The Pending Home Sales Index (PHSI) rose 0.9 percent from April to May and 10.4 percent from the previous year, the highest mark since April of 2006. The news for the Midwest was a bit more moderate, a 0.6 percent fall from April but a 7.8 percent increase from the previous year...
