Below is the current trend for the top five single family neighborhoods in Chicago. With the exception of Kenwood, a few of the neighborhoods have seen a return to ’06 values. Ongoing rates, inventory / pricing and continued economic growth will continue to influence values as owners look to upgrade into a larger homes, relocate or get away from HOAs.
Many owners have also decided not to sell, waiting out the current environment.
Based on Q1 2010 median home prices from MRED.
Sherwin L. Sucaldito, REALTOR®
Member of The Institute of Luxury Home Marketing
Member of the Real Estate Buyer’s Agency Council, ABR
Certified Residential Property Manager, CRPM