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Chicago 2013 Home Sales Rise !


 
CHICAGO 2013 HOME SALES ON THE RISE

  

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The City of Chicago witnessed a 21.2% increase in home sales during 2013 with a healthy total of 27,155 sales made according the Illinois Association of Realtors. Single family home and condo sales in the Chicagoland metro area were up 23% over last year. The median home price has also been following an upward trend, raising 18.9% to $220,000 prompting local home owners to yell Hallelujah!

What was the cause of this buying frenzy? Experts believe that an abundance of motivated sellers combined with low interest rates and a surplus of pent up demand was the catalyst to this past year’s big gains. It’s not off the charts progress, but 2013 real estate sales show signs of a much improved market since Chicago home values hit their low point in 2011.


 

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