Category: Chicago real estate market update

Chicago Real Estate Market Update: 2nd Highest May Sales In 16 Years

Chicago Real Estate Market Update: 2nd Highest May Sales In 16 Years
It’s still relatively early in this cycle of increasing mortgage rates but so far closings have not really been impacted. There’s a bit more to this story below but, in the meantime, check out this graph and remember that last May set a blow out record for home sales. So when I tell you that... Read more »

Chicago Real Estate Market Update: 2nd Highest April Sales In 17 Years

Chicago Real Estate Market Update: 2nd Highest April Sales In 17 Years
More than 2 years into the pandemic and the Chicago real estate market keeps chugging along. When you look at the graph below you’ll be reminded that last April we set a record for home sales – maybe even an all time record. So it’s actually quite impressive that this April sales fell by a... Read more »

Chicago Real Estate Market Update: March Sales Almost A 16 Year Record

Chicago Real Estate Market Update: March Sales Almost A 16 Year Record
Last March set a 15 year record for home sales in Chicago – by a lot, as you can see in the graph below. That graph plots the monthly sales figures and a 12 month moving average with all March data points flagged in red. So it’s truly remarkable that this March came even close... Read more »
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Chicago Real Estate Market Update: February Sets A 17 Year Sales Record

Chicago Real Estate Market Update: February Sets A 17 Year Sales Record
The Chicago real estate market keeps setting new records even when I think it’s not possible. Last month I thought I saw early evidence that the sales strength was weakening a bit. However, February Chicago home sales were up 15.4% over last year, which was already a multi-year record. So, comparing the numbers to 2020,... Read more »

Chicago Real Estate Market Update: Highest January Sales In 15 or 16 Years

Chicago Real Estate Market Update: Highest January Sales In 15 or 16 Years
Incredibly, January blew the home sale numbers out of the water with a 7.8% increase over last year. But keep in mind that last year was pretty strong also. So comparing last month to 2020 we get a 25.9% gain. It’s also at least a 15 year record as you can see in the graph... Read more »

Chicago Real Estate Market Update: Another 16 Year Record

Chicago Real Estate Market Update: Another 16 Year Record
It’s truly amazing. Two years into a pandemic and the Chicago real estate market is still smashing home sale records. December set a 16 year record to be exact and that’s despite the fact that inventory is still tight and last December also set a record. Home sales were 7.7% higher than in 2020 but,... Read more »
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Chicago Real Estate Market Sets A 16 Year Record

Chicago Real Estate Market Sets A 16 Year Record
After last November surpassed the Chicago real estate market’s 2019 home sales number by 18.4% it was hard to believe that this year could be any better. Nevertheless, more than 1 1/2 years into the pandemic, we just posted another gangbuster sales increase of almost the same amount – 19.0%. Of course in two weeks... Read more »

Chicago Real Estate Market Update: Home Sales Still Going Strong

Chicago Real Estate Market Update: Home Sales Still Going Strong
First I’ll give you the official Chicago home sales numbers for October, which will be released in about 2 weeks, but it’s going to send you in the wrong direction. You see…home sales were down 4.9% from last year, although the Illinois Association of Realtors will tell you they were actually down 5.9%. Don’t be... Read more »

Chicago Real Estate Market Update: Highest September Sales In 15 Years

Chicago Real Estate Market Update: Highest September Sales In 15 Years
Well, it looks like the Chicago real estate market is still managing to eke out records despite all the effects of the pandemic speeding up and slowing down activity. The graph below shows all the monthly home sales history going back to 1997 along with all the September data points flagged in red. You can... Read more »
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Chicago Real Estate Market Update: Highest August Sales In 14 Years

Chicago Real Estate Market Update: Highest August Sales In 14 Years
While it’s true that the Chicago real estate market just had its highest August sales in 14 years there are a few caveats that go with that statement. First, you won’t be able to tell that from the graph below (all the August points are in red and there is a green, 12 month moving... Read more »