JULY MINTON’S MONTHLY: Mid-Year Market Check-Up and Market Chatter

BBQ, ballgames, boating, beachtime, golf, etc….
 
Underneath it all is real estate. OK, maybe not the boating. Until we start building underwater communities.
 
It’s mid-year, so let’s check out mid-year stats and chatter for Chicago.
 
Sellers are winning in this market and buyers are frustrated. Why??
 
Low inventory and higher prices. Here are the stats to prove it, according to Midwest Real Estate Data, across all residential sectors in Chicago:
 
Transactions Year to Date: DOWN 3.5% from 2017
 
Dollar Volume Year to Date: UP 3.4% from 2017
 
Market Chatter…

  • Condo deconversions continue as big-time investors look at Chicago’s rental market. But some owners are holding out. See Crain’s article,  “No Deal Is Good Enough…”
 
  • Who’s moving their people from the suburbs to downtown Chicago offices? 
  • McDonald’s from Oakbrook to former Harpo Studio site in West Loop
  • Walgreens from Deerfield to Old Main Post Office
  • Ferrara Candy from Oakbrook Terrace to 625 W Adams

 
What does all this mean for you? Time to sell and collect your gains? Give me a call and let’s find out.
 
In the meantime, enjoy these glorious days of summer in Chicago.
 
Golf, anyone??? (It’s my newest obsession.)

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