You may have heard that everyone is leaving the city, but don’t fret.
The question I’m currently getting asked the most is, “Is everyone leaving the city for the suburbs?” Are we seeing a mass exodus from the cities? If so, what will happen to Chicago real estate values? People have been hearing many different things and are concerned.
The numbers are the proof: In all attached housing including single-family homes, 2- to 4-unit properties, and condos, we’ve sold more units in Chicago in 2021 thus far than in all of 2020. Certainly, many people are moving to the suburbs, but people still want to live in the city too. If there was a mass exodus from the city, we’d be seeing inventory levels surging and prices decreasing, and none of that is happening. In reality, we’re seeing shorter times on the market, positive price growth, and more transactions. Some suburbs are seeing a boom in home purchases, but it’s not at the expense of urban areas.
If you or someone you know is considering moving, whether it’s within the city, to the suburbs, or out of state, we can help. Please call or email us; we’d be glad to assist with anything you need.