Strong Condo Market Drives Home Prices in Chicagoland

by Peter Thomas Ricci

Asking prices once again showed positive movement in September, according to new stats from Trulia.

A strong condo market propelled Chicagoland’s housing market to another month of positive asking-price increases in September, according to the latest Price Monitor by Trulia.

For the month, asking prices were up 10 percent year-over-year and 2.1 percent quarter-over-quarter, with rents rising 7 percent from last year. The key differentiator is property type – though single-family homes in Chicagoland saw asking prices rise 8.6 percent, condo asking prices rose 10.9 percent, yet another sign that multifamily housing continues to drive the housing recovery.

Interested in how Chicagoland compares with the rest of the nation? Check out our graphic below:

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