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SINGLE FAMILY & ATTACHED REAL ESTATE TRENDS AUGUST, 2013 IN DOWNTOWN CHICAGO

Notice in the charts below, the market time for traditional sale, attached units looks to be slowly decreasing, while inventory is hovering below five months. Right now there are a lot of buyers in the market, but not as many sellers. All year we have been seeing a lot of multiple offer situations. Many homes are going under contract almost as quickly as they hit the market. When multiple offers cause a home to sell for more than the original list price a comparable property will then list for a higher amount. This occurs when inventory stays between 1-5 months. There is a high demand in the market, but not a lot of product. Prices are expected to rise, but mortgage rates have also been seeing an increase. Right now is a good time for both buyers and sellers who understand the current values in their market.

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Data provided by Midwest Real Estate Data LLC • Current as of  September, 2013


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Near South Side Near West Side Loop Near North Side

Chicago South Loop Dearborn ParkNear South Side (Area 8033: Includes Dearborn Park, Museum Park and the South Loop) Search for condos (including townhomes) and houses in the Near South Side.

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West Loop Medical Center Pilsen University Village Chicago Real Estate Market Trends Near West Side (Area 8028: Includes Medical Center, Pilsen, and University Village) Search for condos (including townhomes) and houses in the Near West Side.

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Chicago Loop Real Estate Market Trends Loop (Area 8032: Including Printer’s Row) Search for condos in the Loop.

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Chicago Streeterville Near North Side (Area 8008: Includes Gold Coast, Goose Island, Magnificent Mile, Old Town, and Streeterville) Search for condos (including townhomes) and houses in the Near North Side.

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