If you need assistance, please call 312-919-0931

Chicago Metro Real Estate Blog

Saturday, February 10, 2024   /   by Andrey Rudnitsky

Confusing Home Price Trends.... Explained

Home price trends have been a hot topic lately and we receive lots of questions about it.


It’s been confusing because there’s been reputable articles (NYTimes, WSJ, Barrons, etc) / YouTube videos / TikToks of doom and gloom and the looming price crash of homes due to rising rates and slowdown of transaction volume.


In short, the rate of price appreciation has declined, but in the Chicago metro market specifically, homes still appreciate in the low single digits compared to 2023.


This video below from the WSJ covers 80% of what we believe are the dynamics driving these trends for the majority of US markets, including Chicago Metro. The remaining 20% are factors we’ve seen in the market.


Housing Prices Rise Again, Despite Weak Sales: Inside November’s Existing Home Sales | Market Takes - YouTube ...

  chicago metro price trends, home price forecast, home price trends

Wednesday, June 15, 2022   /   by Andrey Rudnitsky

Tips For Buying A Condo In Downtown Chicago

In this video we discuss the following tips for buying a condo in downtown Chicago. Please watch the video for the details.
1) Know your timeframe for living in Chicago. If you plan to be in Chicago for 1 to 2 years, it’s probably better to rent. If you are here for the longer term, approximately 3 or more years, you should consider buying. The breakeven point in terms of selling expenses would be approximately 3 to 4 years assuming the market does not change.
2) Know your price range. There are a lot of variables that impact the cost of owning your condo including taxes, monthly HOA dues, mortgage interest rates, down payment, etc. Knowing what you can afford is crucial and we recommend talking to a lender before starting your search to determine this.
3) What type of area would you like to live in? Chicago has many neighborhoods and each one is a little different. Do you need to be close to your office? Would you like to be in a less busy neighborhood or would you prefer to ...

  buy chicago downtown condo, buy downtown condo chicago, chicago condo purchase, chicago condos, chicago downtown condo, chicago high rise condo, chicago luxury condo, downtown chicago condo, downtown condo chicago, gold coast chicago condo, lake shore east chicago condo, luxury condo chicago, purchase chicago condo, purchase high rise condo chicago, river north chicago condo, streeterville chicago condo, townhome chicago, west loop chicago condo

Soloma Realty Group
159 N Sangamon St #200
Chicago, IL
312-919-0931

The data relating to real estate for sale on this website comes in part from the Broker Reciprocity program of Midwest Real Estate Data LLC. Real Estate listings held by brokerage firms other than Andrey Rudnitsky - Soloma Realty are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the names of the listing brokers. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © Many homes contain recording devices, and buyers should be aware they may be recorded during a showing. Copyright © 2024 Midwest Real Estate Data LLC Information deemed reliable but not guaranteed. Properties marked with the MRED icon are provided courtesy of Midwest Real Estate Data, LLC. Broker Reciprocity. Use of this site constitutes agreement to the terms and conditions. DMCA Notice
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated July 13, 2024. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of GNIAR MLS (last updated July 13, 2024). Real estate listings held by brokerage firms other than Andrey Rudnitsky - Soloma Realty may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. -- Greater Northwest Indiana Association of REALTORS®, Inc. Multiple Listing Service IDX data is copyrighted 2024 by the Greater Northwest Indiana Association of REALTORS®, Inc. All rights reserved.
This site powered by CINC: www.cincpro.com