Here’s the October monthly market update for Chicago The story of low inventory continues, and while interest rates have come up the market has seen some buyers opt out until rates become more favorable, predicted to trend lower as we approach 3Q23. Income levels are not increasing with the rates, so eventually, the market will trend toward a more balanced market. There are still great opportunities in West Loop and the Gold Coast. The bottom line, the Chicago market is a more stable market than other markets nationally.
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The October 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.