Chicago Real Estate Market Trends for June 2016

Chicago Real Estate Market Trends for June 2016

FHA has recently relaxed many of its condo financing rules making it easier for condo buyers to secure loan when buying a condo. If you are in the market for a condo be sure to talk with your lender about how the new rules may help you.

Chicago Real Estate Market Trends for June 2016

Neighborhoods included in these statistics are: Avondale, Albany Park, Edgewater, Irving Park, Lakeview, Lincoln Park, Lincoln Square, Logan Square, Loop, Near North Side, Near South Side, Near West Side, North Park, North Center, Rogers Park, Uptown, West Ridge, West Town.

Chicago Real Estate Sales – Detached Single Homes

The number of Chicago detached single homes selling in June 2016 increased by 10.60% compared to June 2015. The average selling price increased by 7.05% to $869,656 and the average market time increased by 12 days or 18.7%. Homes sold for 97% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

June 2016

292

$869,656

97%

76

June 2015

264

$812,375

97%

64


Chicago Real Estate Sales – Attached Single Homes

The number of Chicago attached single homes selling in April 2016 increased by 0.07% for the month when compared to June 2015. The average selling price increased 2.85% to $427,874 and the average market time dropped 2 days or 3.5%. Homes sold for 99% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

June 2016

1,791

$427,874

99%

55

June 2015

1,804

$416,012

99%

57


Chicago Real Estate Sales – 2-4 Flats

The number of Chicago multi-family properties selling in June 2016 decreased by 5.22% when compared to June 2015. The average selling price increased 7,74% to $592,033 and the average market time increased by 10 days or 16.9%. Homes sold for 98% of the listed price.

Date

Sold Listings

Average
Sold Price

SP:LP

Average
Market Time

June 2016

127

$592,033

98%

69

June 2015

134

$549,487

98%

59


Curious about the value of your home? Get your home’s value here!

Information courtesy of Chicago Realtor Karen Breen Elia.

MAKING A POSITIVE DIFFERENCE IN PEOPLE’S LIVES.

Karen Breen Elia & Louis M. Elia, REALTORS®, are brokers for homes, condos, and multi-unit properties on Chicago’s North Side.

ChicagoCityHomes, RE/MAX Exclusive Properties

Advertisements

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: