USA Real Estate Listings

Chicago real estate market is growing. The increase in the real estate market was over 35% more as compared to 2012. Analysts say that the real estate market activities this year is the highest in the last seven years in Chicago. According to the Illinois Association of realtors, there was a whopping 25% increase in the median property prices from last year in Chicago. This increase in real estate Chicago property has been attributed to a lot of factors such as drop in distressed properties as well as handyman specials, improvement in home prices and much more.

Real estate Chicago details

The real estate activity in Chicago around 16% up from last year and in the last couple of years, this is the lowest. Talking about the distressed homes sales in Chicago, we can concur that it has been declining. In fact, a record low percentage of 24 percent was met this year. Not just that, the home inventories in Chicago have also been continually declining as evident from the fact that single family homes have dropped to a 4.4 month supplies. The inventory level hit a record low in the last 5 years in 2013.

Real estate Chicago Market Times

Even with low inventories, the Chicago real estate market continued to see an increase in property sales. Market times however have fallend down and single family home market times are to  the record low level in the last 6 years. The real estate market time changes continued to grow until 2011 to reach a whopping 204 days. Now the market times have gone down to 69 days.
The market times also speak of the time it takes to sell the homes that have a potential of being sold. Therefore, these data are not for the homes that lack potential.