Wednesday, March 09, 2022

Chicagoland area residential prices up as inventory lags last year

New construction is the name of the game in Chicago (all photos Eric Rojas, Broker, Kale Realty)

 The story of spring 2022 in our MRED market? From January 1st to March 7th of the year:

🤔UNDER CONTRACT UNITS are DOWN
🤔NEW LISTINGS are DOWN
BUT
🧐OPEN HOUSES are UP
🧐SOLD PRICES are UP🔥
🧐NEW residential listings lag same time last year

Tight inventory and high prices have slowed sales a little bit from last year's record pace. However people are lining up for open houses and every transaction we are personally involved in is a MULTIPLE OFFER






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