Chicago real estate
Chicago Real Estate in September 2024: Still Hot, But Cooling Off!
The Chicago real estate market in September 2024 is still hot, but with a slight cooldown—like the perfect transition from summer to fall. Sales have dropped by 8% since their June peak, partly…
The Chicago real estate market in September 2024 is still hot, but with a slight cooldown—like the perfect transition from summer to fall. Sales have dropped by 8% since their June peak, partly due to rising interest rates. But the good news? Prices are holding strong! The median home price jumped to $379,925, marking a 6.3% increase compared to last year. Homes are flying off the market in just 54 days on average, so buyers better bring their A-game!
Commercial real estate is buzzing too, with big moves like the recent sale of the Parkline Chicago apartments. Even though some companies are downsizing their office spaces, new developments are keeping the market lively.
So, if you’re thinking about buying or selling in Chicago, now’s the time to dive in. Sellers are still in the driver’s seat, but buyers, don’t let the competition scare you—you can still snag a great deal!
Sources:
- WTTW Chicago Real Estate Update(WTTW News)
- Pearson Realty Group Market Update(Pearson Realty Group)
- Norada Real Estate Forecast(Norada Real Estate Investments)
- The Real Deal Chicago(The Real Deal)
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