Tag: Chicago monthly real estate market update

Chicago Real Estate Market Update: Home Sales Set 15 Year Record In May

Chicago Real Estate Market Update: Home Sales Set 15 Year Record In May
The Chicago real estate market continued its record setting pace in May, hitting a 15 year high in closed sales. You can clearly see it in the graph below, which has all the May values flagged in red. Also, note that the green 12 month moving average is higher than it has been in 14... Read more »

Sizzling Hot Chicago Real Estate Market Had Record Sales In April

Sizzling Hot Chicago Real Estate Market Had Record Sales In April
I think April had record sales but I can’t be entirely sure. Check out the graph below (all the April values are flagged in red) and notice that last month was slightly lower than April 2005. However, all the April 2005 sales are posted after 16 years but there are still a few April 2021... Read more »

Chicago Real Estate Market Was On Fire In March

Chicago Real Estate Market Was On Fire In March
First, let me be clear that closings in the Chicago real estate market were not depressed in March of last year. In fact, sales were up 2.8% over the previous year because those contracts had been written mostly in February and earlier, before things got ugly. So, when I tell you that closings this March... Read more »
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Chicago Real Estate Market Update: Sales Up Again, Inventory Ridiculously Low

Hmmm. After looking at the February data I’m thinking that maybe the Chicago real estate market really is doing something more than simply making up for the lost activity during the initial lockdown when the pandemic first hit. Maybe we really have entered a bull real estate market, though the bull may be losing a... Read more »

Chicago Real Estate Market Update: Powerful Start To 2021

Chicago Real Estate Market Update: Powerful Start To 2021
It looks like the Chicago real estate market is off to a really strong start in 2021 with January setting a 14 year record high for closings. Closings last month were 17.1% higher than last January as the market continues to make up for lost home sales early in the pandemic. In fact, for the... Read more »

Chicago Real Estate Market Update: 2020 Ends With Burst Of Activity

Chicago Real Estate Market Update: 2020 Ends With Burst Of Activity
Last month I was thinking that the Chicago real estate market was losing steam in its recovery from the pandemic slowdown. The year over year gains were declining as we reached the end of the year. However, I just looked at the December data and that trend was broken. The graph below has monthly home... Read more »
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Chicago Real Estate Market Update: Continuing The Run Of 14 Year Records

Chicago Real Estate Market Update: Continuing The Run Of 14 Year Records
The Chicago real estate market is on a run. November was the third month in a row where home sales posted a 14 year record high. You can see it in the graph below which shows monthly home sales going back to 1997 with all Novembers flagged in red and a green 12 month moving... Read more »

Chicago Real Estate Market Update: October Another 14 Year High

Chicago Real Estate Market Update: October Another 14 Year High
As we all know the Chicago real estate market took a big hit for a few months due to the pandemic but it’s coming back strong. October was another blowout month – not quite as good as September’s 31.6% jump from last year though. Nevertheless, a 22.6% gain is pretty darn good and there’s probably... Read more »

Chicago Real Estate Market Update: September Home Sales Soar

Chicago Real Estate Market Update: September Home Sales Soar
After telling you for 3 straight months that the Chicago real estate market should be seeing a significant increase in home sales it finally happened. The really strong contract activity of the last 3 months finally flowed through a little bit in August home sales but September jumped 31.6% over last year. If you look... Read more »
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Chicago Real Estate Market Poised For Strong September

Chicago Real Estate Market Poised For Strong September
Well, August wasn’t too bad for the Chicago real estate market. Home sales were up 10.6% from last year but, frankly, I expected more, given that July contract activity was so strong. You can see where August fell relative to history in the graph below which has all previous Augusts flagged in red. This is... Read more »