Are You a Smart Chicago Home Buyer?

"Discover All Homes & Condos...
Search Chicago MLS, Find Amazing Short Sale Listings & Real Bargains..."

Find Exactly What You're looking For...


Step One: Choose your Chicago neighborhoods

Check one or more areas of interest:

Albany Park
Altgeld Gardens
Andersonville
Arcadia Terrace
Archer Heights
Ashburn
Avalon Park
Avondale
Back of the Yards
Belmont Central
Belmont Gardens
Belmont Heights
Belmont Terrace
Beverly
Beverly View
Beverly Woods
Big Oaks
Bohemian Cemetery
Bowmanville
Brainerd
Bridgeport
Brighton Park
Bronzeville
Bucktown
Budlong Woods
Buena Park
Burnside
Cabrini Green
Calumet Heights
Chatham
Chicago Lawn
Chinatown
Clearing
Cottage Grove Heights
Craigin
Dearborn Park
De Paul
Douglas
Douglas Park
Dunning
East Chicago
East Garfield Park
East Rogers Park
East Village
Edgebrook
Edgewater
Edison Park
Englewood
Fifth City
Ford City
Forest Glen
Fuller Park
Fulton River District
Gage Park
Galewood
Garfield Ridge
Gold Coast
Goose Island
Graceland Cemetery
Graceland West
Grand Crossing
Gresham
Hanson Park
Hegwisch
Hermosa
Hollywood Park
Homan Square
Humboldt Park
Hyde Park
Industrial Corridor
Irving Park
Irving Woods
Jackson Park Highland
Jefferson Park
Jeffrey Manor
Kelvyn Park
Kennedy Park
Kilbourn Park
Lakeview
Lakeview East
Lakewood-Balmoral
Lathrop
Lawndale
LeClaire Courts
Lincoln Park
Lincoln Square
Little Village
Logan Square
Longwood Manor
Loop
Margate Park
Marquette Park
Marycrest
Marynook
Mayfair
McKinley Park
Medical Village
Midway
Monteclare
Morgan Park
Mount Greenwood
Near North Side
Near South Side
New East Side
Noble Square
North Austin
North Center
North Kenwood
North Mayfair
North Park
Norwood Park
O'Hare
Oakland
Old Irving Park
Old Norwood
Old Town
Old Town Triangle
Oriole Park
Park Manor
Parkview
Peterson Park
Peterson Park Grounds
Peterson Woods
Pill Hill
Pilsen
Portage Park
Prairie District
Princeton Park
Printers Row
Pullman
Ravenswood
Ravenswood Gardens
Ravenswood Manor
River North
River West
Roscoe Village
Rosehill Cemetery
Roseland
Rosemoor
Sauganash
Schorsch Forest View
Schorsch Village
Scottsdale
Sheridan Park
Sleepy Hollow
South Austin
South Chicago
South Deering
South Edgebrook
South Loop
South Shore
St. Ben's
Stony Island Park
Streeterville
The Gap
Tri Taylor
Ukrainian Village
Union Ridge
United Center Park
University Village
Uptown
Vittum Park
Washington Heights
Washington Park
West Beverly
West Chatham
West Chesterfield
West Elsdon
West Englewood
West Garfield Park
West Humboldt Park
West Lakeview
West Lawn
West Loop
West Morgan Park
West Pullman
West Rogers Park
Wicker Park
Wildwood
Woodlawn
Wrightwood
Wrigleyville

Step Two: Type of Property

Condo
Townhome
Multi Unit (2-4 units)
Multi Unit (5+units)
Loft
Single Family Home
Vacant Lot
All

Step Three: Price Range - (Minimum to Maximum)

$ ,000.00 — $ ,000.00

Step Four: Minimum Number of Bedrooms and Bathrooms

Chicago Homes - September 2007

Chicago Home Sales Plummet 36% As Fall Approaches...

If you’re looking to buy a home in the Chicago area...make certain that you drive a tough bargain.

The market for single family homes in Chicago and surrounding suburbs is very weak. The number of single family homes sold in Chicago has dropped along with the median price compared to the same period last year.

The most recent weekly Chicago real estate sales closing numbers from the Chicago Association of Realtors show that 132 single family homes were sold during the week of August 8 to August 21st. During the same week in 2006, 192 homes were sold, representing a 36% drop in sales.

The median sales price for homes sold during the week was up just a bit to $289,000 from $285,000 during the same week last year.

However, when the entire year of home sales is taken into consideration, prices for single family homes have risen slightly. According to the most recent report on Chicago real estate from the Illinois Association of Realtors, the average price of Chicago homes for sale has remained steady despite a 16.1 percent drop in sales from July 2006.

Condo closing numbers were also down. 393 units closed compared to 525 last year, down 25%.

Two, Three & Four Flat closings nose dived ...42 units closed down more than 50% from last year’s 86 units.

And, the number of homes for sale in Chicago continues to increase...

116,000 homes and condos are currently listed for sale...an astounding number, actually.

This number is ALMOST DOUBLE THE INVENTORY OF JUST TWO YEARS AGO.

Numbers for specific Chicago neighborhoods are mixed, according to the Chicago Association of Realtors. During the second quarter of 2007, Norwood Park saw a 5% increase while homes in Garfield Ridge sold for 11% less than during the same period of 2006.

Many counties in the greater Chicagoland area have seen an increase in prices for single family homes. “A sample of counties in the Chicagoland PMSA that saw increases in median home sale prices in the second quarter include Cook, up 4.2 percent to $269,900; DeKalb, up 1.9 percent to $185,000; Grundy, up 8.6 percent to $190,000; Kane, up 1.5 percent to $233,500; Lake, up 1.9 percent to $263,000; and Will, up 1.8 percent to $224,000.”

The real estate market for Chicago homes faces several pressures that continue to cause a slowdown in the market. Foreclosures around the greater Chicago area are up 40% over last year, but still remain well below the average increase in foreclosures seen across the nation. Also, many new home developments are coming on the market, adding to the current supply of Chicago homes for sale. The Chicago Spire is a very good example of new development rising in the skyline. This added supply increases the amount of time a property is on the market.

The amount of time that homes are on the Chicago real estate market has increased in almost every neighborhood in the city. Ashburn home owners must now wait an average of 112 days for their home to sell, up 80% over last year. If you own a home in Irving Park, it will take you 159 days to find a buyer.

These trends are very ominous for sellers...