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...
The numbers are in and Chicago's top-selling neighborhood for the month of May was: the Near North Side. The sales numbers are driven, in large part, by the amount of inventory, and neighborhoods rich in condos typically rank higher. In May the top three slots went to the Near North Side, then West Town then Lincoln Park with 280, 195 and 157 sales respectively. If you remove condos from the equation, then the numbers change substantially...
This spacious residence lives like a single-family home in a stately building at the heart of it all. Over 4100 square feet, 4 bedrooms, 4.5 baths with separate living quarters for a nanny or guest complete with second kitchen. Huge rooms throughout with tall ceilings and great light. Steps to Michigan Avenue, Lake Shore Park, and the lake front. Full amenity building with pool & grocery, Garage Parking included.
The numbers are in and Chicagoland's top-selling suburbs from May were: Aurora, Naperville and Plainfield. Sales for the first two were up 28.9 and 27.5 percent from April to May but the largest increase belongs to Plainfield, which saw a sales surge of 64.1 percent. Joliet and Arlington Heights both saw big increases as well, 47.7 and 33 percent respectively. For more, head over to Chicago Agent Magazine here .
The good news for the Chicago-area housing market keeps coming in; the May numbers continued the trend of increasing sales volume and price. Sales were up 7 percent in May year over year and prices rose 7.2 percent, according to the Illinois Association of Realtors latest analysis. The city's market was even stronger, with sales rising 10.1 percent and media price up 6.8 percent. For more, head over to Chicago Agent Magazine here .
The number of houses in the Chicago-area has picked up and in spite of that the sale prices continue to increase and market time decreases as the market tries to keep up with demand. According to a new report, the number of homes for sale in the Chicago area grew 18 percent in the last 12 months, a sign of increasing health and the biggest increase in three years. Market time is less than 17 days and the median price us up to $285,000...
As rent costs increase, many are looking to buy as an option to control their monthly costs. But so far, the numbers show that renters aren't moving into home ownership at high rates. According to a study from John Burns Real Estate Consulting, 14.6 percent of renters transitioned to home ownership in the fourth quarter of 2014, down from 25 percent ten years earlier, in 2004...
It's a natural consequence of the home sales price increases that are evident in the local market, but homeowners across the city, state, and nation are finding themselves in better equity positions, according to the most recent data. According to CoreLogic, 81 percent of mortgages in Chicago are now above water after the first quarter 2015 appreciation. That's up 78.1 percent in 2014. There was also a .2 percent drop in mortgages that were in near negative equity from 3.8 p
Enter this high floor, North East corner 1 Bed / 1 Bath condo and be WOWED by the fantastic views of Lake Michigan! Most desirable tier. Floor-to-ceiling windows. Forever views overlooking Gold Coast mansions. Recently upgraded open kitchen & remodeled bath. 7' x 7' walk-in closet in bedroom. On the quiet side of the building, but just steps to Lake Shore Drive, beaches, fine dining & shopping! 2 blocks to CTA Red Line & grocery...
When you're looking at upgrades to your home, they're not all created equally. In fact, if you're looking to recoup your investment when the time comes to sell, there are some upgrades you should avoid completely and some ideas from which you should steer clear. First, avoid pools. Swimming pools in general are often viewed by prospective buyers often as more of a burden then a benefit...
Another day, another residential skyscraper is proposed for Chicago. This time, Jupiter Realty and Pappageorge Haymes have partnered on a proposal for a 500-foot tall tower at 465 North Park in Streeterville. The tower would feature 444 apartments, 181 parking spaces and just under 12,000 square feet of retail. They're hoping to start construction in January 2016...
Contemporary 1 Bed / 1.5 Bath Plus Den Unit At Aqua Condominium. Hardwood Floors Throughout, Stainless Steel Appliances, Dishwasher, Garbage Disposal, Washer & Dryer. Balcony With Views Of Navy Pier, Lake Michigan & City Skyline. Floor-To-Ceiling Windows. Includes Heat-A/C, Gas, Water, Cable, High-Speed Internet & The Use Of All The Amenities. Extra Wide Premium Parking Available For Purchase.
New data from RealtyTrac shows that Chicago's "zombie foreclosures" are down substantially in the second quarter on 2015. The total number of "zombies", that is, houses that are vacant but where foreclosure proceedings are not yet completed, fell 28 percent. The total number of such properties in the metro area is now 7,168. Chicago was joined by Atlanta, Dallas, Miami and Phoenix in the decline. For more, head over to Crain's here .
Another day, another residential skyscraper is proposed for Chicago. This time, Jupiter Realty and Pappageorge Haymes have partnered on a proposal for a 500-foot tall tower at 465 North Park in Streeterville. The tower would feature 444 apartments, 181 parking spaces and just under 12,000 square feet of retail. They're hoping to start construction in January 2016...
Vintage charm and grace in this extraordinary 2,000 sq ft corner unit overlooking Lake Michigan & Oak Street Beach. This 3 bed (1 converted), 3 bath unit has deep crown moldings, mint condition hardwood floors, fire place. English style kitchen with butler's pantry. Large master suite. Library which includes Murphy bed & ensuite bathroom. 3rd bed converted into office w/ built-in shelves and desk. Garage parking near.
It may sound counter-intuitive but in some good news for real estate, the percentage of down payments has dropped. Good news because it could signal the return of the first-time homebuyer. According to a new report from RealtyTrac, down payments for single family homes, condos and townhouses was down to 14.8 percent in the first quarter of 2015, the lowest number since 2012 and down from 15.5 percent last year. FHA loans were down to 2...
More good news from CoreLogic - the April housing market report showed continuing price increases for Chicago. Including distressed sales, home prices in Chicago rose 4.5 percent year over year and excluding distressed sales the increase was even more dramatic, 6.6 percent. For the full report, head over to Chicago Agent Magazine here .
