The shortage of good housing inventory in Chicago is hardly news, but the extent of the decline for some neighborhoods is still quite surprising.
News flash! Housing inventory in Chicago, as with most of the nation’s other major housing markets, has fallen by exponential amounts in the last couple of news.
We know, such a statement is hardly newsworthy on its face, given how consistently we and other news outlets report on housing inventory in and around Chicago; that said, some new numbers on the inventory situation in some of Chicago’s most prominent neighborhoods are still surprising.
Courtesy of Ron Goldstein, an agent with Prudential Rubloff, the numbers look at the housing inventory (in months supply) of eight of Chicago’s top housing markets, and compares the present numbers from those of a couple years ago.
What did Goldstein’s research uncover? Well, that inventory in those neighborhoods is down – by quite a bit. Attached housing in the neighborhoods, for instance, has fallen from an average of 11.1-months supply to just 1.9-months, an 83 percent decline. Check out our infographic below to find out more details: