In the video above we dug into sales trends across the country. But how do these numbers look locally, in Chicago?
The city of Chicago is right on par with the rest of the country. Distressed sales are down and traditional sales are up.
It’s even more dramatic in the Loop where traditional sales are up 22.9%, but bank owned and short sales are down 25% and 62.2% respectively.
The Loop isn’t showing as great of a difference in closed sales by price range as we saw across the country, but it is also following the pattern of an increase in closed sales in the higher priced properties.
There has even been a slight increase in price across all price ranges in the Loop. This is good news for sellers. Increasing prices and low inventory is a good recipe for low market times. Send us an email through the contact form below to learn about prices in your neighborhood.
If you are thinking of selling this might be the time to get the best price for your home, before your competition lists. Let us know if you would like an analysis on the current value of your home, fill out the contact form below.
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