Chicago Real Estate Market Update May 2018
Real Estate In Chicago is a balanced market favoring buyers. There is significant amount of homes for sale in Chicago, and buyers are not in a rush to buy yet. There is a 6.06 months supply of inventory on the market in Chicago on May 31, 2018.
Now is the Time to Sell!
The average market time for a Single Family Homes to sell in Chicago last month was 49 days.
It took on average 36 days to sell Chicago Condo, Townhouse or a Duplex.
The number of home sales in Chicago from April 1, 2018 through April 30, 2018 was 2553 units. That is 1% above the number of homes sold last month in Chicago.
The average price per square foot in the area is now $237/Sq.Ft, which is 5% an increase from last month.
In Chicago there were 721 units sold in April in the price range between $2,030 – $207,056 with an average of 2.6 bedrooms and 1.4 bathrooms and average Square footage of 1,186SF.
In Chicago there were 1824 units sold in April in the price range between $207,057 – $3,600,354 with an average of 2.8 bedrooms and 2 bathrooms and average Square footage of 1,821SF.
In Chicago there were 8 units sold in April in the price range between $3,600,355 – $6,788,628 with an average of 3.9 bedrooms and 4 bathrooms and average Square footage of 4,514SF.
The low price range had the most activity. Homes up to $207,056 were on the market on average 57 days and sold an average of $126,498.
If you are looking for a new home for you and your family, or looking for an investment property, you can’t go wrong by getting a prime piece of real estate in Chicago. Search all Chicago homes for Sale on propertyup.com If you are considering viewing Chicago, you may want to do so now!
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source http://realestatevibe.com/chicago-real-estate-market-update-May-2018/
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