Chicago Asking Price Growth Among Nation’s Best in July

by Peter Thomas Ricci

Asking prices grew all over the nation in July, but they showed particular strength in our metro area.

Asking prices in the Chicago metropolitan area rose 12.9 percent year-over-year in July, according to the latest Price Monitor from real estate website Trulia.

That was the 12th strongest yearly price increase in the nation, and was in addition to Chicago’s 4.3 percent quarterly increase (which was the strongest in the nation among large metropolitan areas) and an 8.0 percent increase in rents, year-over-year.

National Asking Prices Continue to Slow

On a national basis, asking prices continued to return to earth after their exuberant 2013. Per Trulia’s analysis, asking prices were up in 97 of the nation’s 100 largest metros, though the average quarterly increase of 2.5 percent was below 2013’s increases of the same period, which were 3 percent or higher.

For more perspective on how our metro area compares with the rest of the nation, take a look at our infographic below.

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