Local News

Real estate news in Chicago

Homebuying competition lessens in Chicago. Could the market be losing steam?

The competitive homebuying market showed signs of loosening up last month as bidding wars dropped from May despite being higher than they were a year ago. 

Realty ONE Group enters the Chicago market

Realty ONE Group announced the grand opening of its first Chicago franchise under the brand Realty ONE Group Leaders. 

How long would it take a Chicago renter to save up for a down payment in today’s market?

It could take Chicago-area renters more than seven years to save for a down payment in today’s market.

@properties opens office in Valparaiso, Ind., buys tech firm Suburban Jungle Group

The purchase of the tech company and expansion into Valparaiso is among many advances @properties has made over the last two years.

Median rental price hits highest point in two years

Despite an average nationwide uptick, Chicago rents declined year over year in May.

New listings growth seen across U.S. markets in June

Housing markets across the country saw new listings growth in June, as the median list price hit yet another all-time high, and Chicago was no exception. 

Mainstreet Organization of Realtors: Market uncertainty still driving inventory squeeze

“We’re seeing similar pressures across the country, which is why the National Association of Realtors wants to create incentives for homebuilders to help meet the growing housing demand.” — MORe CEO John Gormley

@properties purchases technology, consulting firm Suburban Jungle

Suburban Jungle provides pre-search consultation services to homebuyers to help them find the ideal neighborhood or suburb for their needs and match them with a vetted real estate agent.

@properties celebrates new top earners with Rolex, Cartier watches

Agents at @properties who earned more than a quarter-million dollars in commissions for the first time with the company were awarded a high-end attaboy by the brokerage for their work in 2020.

Lendlease condos The Reed and Cirrus offer next-door rentals during construction

The program allows these temporary renters to recoup 50% of the rent they pay (up to 2.5% of the sales price) during construction as a credit toward their condo at closing.

Chicago home inventory levels rebounded in May

Inventory levels rebounded last month, finally showing signs of recovery following a year of historical declines. 

Chicago home sales transactions up 64.4% from a year ago

The typical increase in home sales as summer approaches failed to materialize nationwide last month, with average sales dropping 0.2% from April to May, but month-over-month sales in Chicago bucked the trend, climbing 4.3%, according to the RE/MAX May National Housing Report.

Illinois ranked 18th-best state to live in

Illinois is the 18th-best state to live in the country, according to WalletHub’s 2021 Best States to Live In list. 

CoreLogic: Illinois homes average $14K annual equity gain

CoreLogic says the boost in equity will help stave off foreclosures, but the share of homes underwater in the metro Chicago area was at 6.1% at the end of the first quarter of 2021, outpacing the national rate of 2.6%.

Chicago ranks 26th on top 50 new markets list based on 2020 closings

Experts at Builder Magazine recently came out with their Local Leaders list for 2020, which ranks the country’s 50 largest new-home markets based on closings by the end of the year.

Chicago climbs The Economist’s most livable cities in the world list

Some cities fared better than others with the global pandemic and Chicago is one of them, according to The Economist’s 2021 Livability Index’s ranking of the most livable cities in the world.

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