Last year, on a year-over-year basis, the city of Chicago saw a nearly 8 percent rise in total home sales coupled with a 7 percent spike in median price, according to the Illinois Association of Realtors. This year all indicators–primarily inventory levels–suggest similar year-over-year gains will occur.
- Chicago's housing supply is at three months.
- Chinese investors are the most active foreign buyers in Chicago, primarily acquiring condos.
- A decline in distressed sales is benefitting overall home prices.