Three Things to Know about Real Estate in Chicago

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I have a couple of different things to speak about, because there is a lot going on with the real estate market in Chicago right now.

First of all, inventory is very low, and this is causing multiple offer situations to occur more frequently. This is subsequently raising home prices, so if you're looking to sell, now is a great time to do so.

As far as median home prices go, we're currently sitting at $305,000 for the Chicago area (through June 2015). This is good news because prices have been increasing very nicely in the last few years. If you'd like a more detailed price report for your neighborhood, please don't hesitate to contact me. I can provide one for you.

Finally, closed sales in Chicago have risen dramatically since 2013. This is simply because supply is low and demand is high. Part of this may be the fact that interest rates are still very low, which is causing buyers to purchase now when affordability is high.


If you have any further questions about this report, or if you'd like to buy or sell in the Chicago area, please don't hesitate to contact me!