This week Fortune’s article “We’re in a historically overvalued housing market, and these cities could see home prices drop 10%, Moody’s says” highlights the high prices in cities around the country. Our local Chicago market doesn’t always reflect the national market. Even Chicago’s real estate market varies from neighborhood to neighborhood. The good news is that May Chicago Real Estate Market Update tells a different story. Inventory remains low and interest rates have gone up, but our market remains strong. The year over year appreciation is good across the board.
The May 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.
The May 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.