Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-24-2013, 07:08 AM
 
Location: Chicago
4,688 posts, read 10,102,964 times
Reputation: 3207

Advertisements

Quote:
The city of Chicago saw a 28.4 percent year-over-year home sales increase in April 2013 with 2,331 sales, up from 1,816 in April 2012.

The median price of a home in the city of Chicago in April 2013 was $222,000 up 22.0 percent compared to April 2012 when it was $182,000. Chicago condo prices also saw strong gains for the month, posting a 21.1 percent jump to $272,500.
Another solid month for the Chicago RE market.

April home sales up 25.3 percent from a year ago; Statewide median price at $145,900 | Illinois Association of REALTORS®
Reply With Quote Quick reply to this message

 
Old 05-24-2013, 07:15 AM
 
14,798 posts, read 17,673,639 times
Reputation: 9246
Quote:
Originally Posted by jdiddy View Post
Here's some intersting news on the market.

Yes, The Chicago Real Estate Market Is Hot - Getting Real

42% of new listings in April were under contract within 2 weeks in the City.

Last edited by Vlajos; 05-24-2013 at 07:25 AM..
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 07:35 AM
 
Location: Chicago, IL
1,988 posts, read 2,222,382 times
Reputation: 1536
That is a large price increase in the median sale price. I'd be interested in the data to see how there has been such a massive jump. All of the cheap places all bought up that were dragging that down last year?
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 07:45 AM
 
Location: Chicago
4,688 posts, read 10,102,964 times
Reputation: 3207
Quote:
Originally Posted by Vlajos View Post
Here's some intersting news on the market.

Yes, The Chicago Real Estate Market Is Hot - Getting Real

42% of new listings in April were under contract within 2 weeks in the City.
I'm glad we found our place when we did.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 08:34 AM
 
14,798 posts, read 17,673,639 times
Reputation: 9246
Quote:
Originally Posted by jdiddy View Post
I'm glad we found our place when we did.
I agree, I think we timed the purchase of our home pretty well.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 10:58 AM
 
382 posts, read 824,628 times
Reputation: 344
It's mostly due to shortage of inventory. There's a 40% decrease in the number of homes for sale I believe, since last year.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 11:20 AM
 
Location: Chicago, IL
1,988 posts, read 2,222,382 times
Reputation: 1536
Quote:
Originally Posted by divakat View Post
It's mostly due to shortage of inventory. There's a 40% decrease in the number of homes for sale I believe, since last year.
That's what I suspected. Basically all of the cheap investment properties were snapped up over the last few years.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 11:26 AM
 
14,798 posts, read 17,673,639 times
Reputation: 9246
Less foreclosures in the numbers as well. Last April close 50% of the sales were foreclosures, this April it's around 30%.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 11:54 AM
 
Location: Chicago, IL
1,988 posts, read 2,222,382 times
Reputation: 1536
I wonder what kind of foreclosure inventory hasn't even been put on the market yet.
Reply With Quote Quick reply to this message
 
Old 05-24-2013, 11:59 AM
 
14,798 posts, read 17,673,639 times
Reputation: 9246
Quote:
Originally Posted by Ace Rothstein View Post
I wonder what kind of foreclosure inventory hasn't even been put on the market yet.
Who knows? There's always talk of all the shadow inventory, but it never materializes.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top