Real estate market trends in Chicago in 2012


Real estate business in Chicago has always been known rise and fall, as has been observed in the past few years. Every year there is a unique market trend that characterizes it. In business, there are some questions. Several factors also determine the market trend for each year.

In 2012 the current trend of the real estate market in Chicago have been on the decline. According to contemporary reports Trulia, the whole trend of the market in 2012 around Chicago reduced. The average of the & # 39; sales for homes in Chicago there is a decrease from 12 January to 12 March 2012. The cost is $ 160 750. This shows a decrease of 13.1% compared with a decline of 10% marked in 2011.

Trulia The report also states that sales prices on the market also declined from the last 5 years so far in 2012. In fact, the average price on a letter in April 2012, there were several rises. for houses for sale, as totaled $ 388.423 on April 25, 2012. This indicates a slight increase of $ 2,854 or 0.7% compared with a preview of the week.

Again, in Chicago also reduced the price per square foot. The average price per square foot for April 2012 is $ 124. This shows a decline of 12.1% in comparison with what could be obtained in April 2011.

The trend in the real estate market in Chicago in 2012, also shows the concentration of sales in certain quarters. The most popular neighborhoods that attract real estate sales include Lincoln Park, North Side, Wicker Park, Chicago Loop, Baktaun and DePaul. The housing market is pretty hot in these areas. Investors are busy buying and sales in the mentioned areas.

Meanwhile, there are the latest trends and news of the Chicago marketplace. For example, the US Treasury Department reports that 35% of home sales in Chicago is a risk, compared to 34% across the country. In this May issue of the "Chicago Tribune" also reported that the current home sale market sales in Chicago gentle. This is a result of a large number of long-time buybacks, vacant homes and low mortgage.

In any case, 2012 is still going. We're not in the middle of the year. Although current market trends in Chicago seems to decrease, experts still hope that conditions will change. The housing market is usually unstable with financial uncertainties. The pendulum may swing in either direction, depending on the situation. The real estate market in Chicago, there is hope for a greater number of investors. As expected, housing prices and the other on the & # 39; real estate will rise. The future is still a lot for the real estate market in Chicago.