Today, I wanted to take a moment to compare the 2016 Chicago real estate market to that of 2015.
As we left 2016, we found that we’re in a slight seller’s market here in Chicago; homes sold at a faster pace and for more money than in 2015. That’s all good news for sellers.
On the buyer side, you’ll find that you have to be ready to make a decision once you find a property that’s the right fit. That’s because properties are selling faster than they typically would. However, there is good news for buyers. Interest rates are still incredible. Due to low rates, buyers have a lot of buying power.
“Due to low rates, buyers have a lot of buying power.”
Have you been considering getting into the real estate investment market here in Chicago? Are you already the owner of an investment property? It continues to be a really strong market for us here in Chicago. Demand for rentals keeps going up as well. In fact, we’ve seen increases for the last four years in a row. The speed at which units re-rent is very fast.
If you have any questions about the Chicago market or you’re thinking about selling your house or buying an investment property, don’t hesitate to give me a call or send me an email with any questions at all. I’d be happy to help.
