Here are the trends for last month in the Single Family, Townhome, and Condo markets across the near north and west neighborhoods. Overall, the rates have impacted the real estate market as was expected and part of the plan by the FED, but there is more to the story because humans still have transitions in their lives. So the number of homes on the market is down, but average prices are stable or going up. The rental market has seen historic jumps this year because people still need a place to live. Some renters are staying in their homes longer because they aren’t finding the home they want. We’re seeing multiple offers now in both the rental and sales markets. The name of the game is preparation. Be ready to make that transition. If you’re looking for advice, I’m here for you. Click HERE for the latest on national housing trend indicators.
The April Chicago Real Estate Market Update includes sales of Single Family Homes and Condominiums from April in Lincoln Park, Lakeview, Bucktown/Wicker Park, Logan Square, Gold Coast, Old Town, River North, and West Town.
This Chicago Market Update offers insight on trends, but every home is unique. If you are looking for a detailed look at your home’s value, we’re here for you.