3 things are ALWAYS true about home and condo sales...
1) People always need a place to live.
2) People are always moving, due to various circumstances in their lives (new job, desire to upgrade, marriage, kids, schools, etc.).
3) Most people want to own the home they live in, so they can be free to do what they want with it.
The key to success in real estate is getting what you need right now at the best possible terms. And...
If you want a new place to live--one that belongs to you, that you can make your own--you now have PERFECT home-buying conditions.
It's a Buyer's Market...motivated sellers are slashing prices...and mortgage rates remain at historic lows.
Right now in Chicago, there's over 81,000 homes on the market, with more being added every day. It turns out this is a 5% increase over the last six months!
We've been watching prices come down now for several months, and it looks like this trend is going to continue. The median price for a single family home in Chicago is down around $7,000, just over the last three months. We're certainly looking at a hot Buyer's Market right now in Chicago. To see the most recent Chicago Real Estate Report, see Downtown Chicago Condos.
