Posts Categorized: Market Insights

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Chicago Area Real Estate Statistics Show Further Deterioration

Over the last week a number of Chicago area real estate statistics came in that reinforce the fact that the market here continues to deteriorate like other parts of the country. Here is a brief summary: 4th quarter sales for the city of Chicago declined by 29% from 2007, dropping to 1994/1995 levels. The drop… Read more

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What’s Really Going On With Prices In “Prime” Neighborhoods?

It’s not easy figuring out what is going on with home prices in Chicago’s individual neighborhoods. The Case-Shiller data, which I believe provides the best insights into home price trends, is not typically available at the neighborhood level and, as I have often pointed out, I think median price data is worthless. Therefore, on an… Read more

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Chicago Condo Market Glut Reaches Biblical Proportions

I knew it was bad and getting worse but as we updated our Chicago neighborhood housing market statistics I started to see deterioration on a scale I had not seen before. It used to be that the evidence of a slowdown was limited to the fringe areas of the city. Sacred neighborhoods like Lincoln Park… Read more

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Bad Chicago Real Estate Data From Tribune And Zip Realty

A report published by the Chicago Tribune on Sunday based upon data provide by Zip Realty is totally bogus. In the report titled Near South Side homes selling, on average, for more than list price the Tribune states that “sales in the Near South Side have averaged 106.4 percent of their asking prices, amounting to… Read more

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Chicago Olympics And Home Values

I run into a fair amount of discussion about how the olympics being held in Chicago in 2016 would be such a boon to real estate values on the south side. Interestingly, everyone believes that hosting the olympics would benefit home values but I haven’t really heard any discussion of exactly how this works. Presumably,… Read more