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<span id="docs-internal-guid-d6214129-cada-0092-2f15-3b29c67e070f"><span style="font-family: Arial; font-size: 11pt; vertical-align: baseline; white-space: pre-wrap;"><i>Home values in Chicago have increased since last year, which puts us in a seller’s market.</i></span></span><br />
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.6667px; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><i><br /></i></span>
<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.6667px; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Looking to buy a Home in Chicago? </span><span style="background-color: transparent; color: black; font-family: "arial"; font-size: 14.6667px; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><b><a href="http://www.mydreamhomechicago.com/search/advanced_search/" target="_blank">Search all Chicago homes for sale.</a></b>
Selling Your Home in Chicago? <b><a href="http://www.mydreamhomechicago.com/cma/property-valuation/" target="_blank">Use our home evaluation tool.</a></b></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">What’s the latest update on our Chicago market? Let’s take a look at some stats from </span><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 11pt; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><a href="http://www.illinoisrealtor.org/" style="text-decoration: none;" target="_blank">Illinoisrealtor.org</a>.</span></div>
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<span style="font-family: "arial"; font-size: 11pt; white-space: pre-wrap;">The median sales price for 2017 is $246,000, which is higher than the 2016 median sales price of $236,000. Since 2016, inventory of homes for sale is down 10%, and the average days on market has also decreased nearly 7%. The average listing price is expected to climb 1.95% in 2017.</span></div>
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<span style="font-family: "arial"; font-size: 11pt; white-space: pre-wrap;">Based on recent trends, Geoffrey Hewings predicts it will take 1.2 to two years for Chicago area homes to reach their peak-2006 values again.</span></div>
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<span style="font-size: large;">Given all the recent developments,</span><br />
<span style="font-size: large;">Chicago is a seller’s market.
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;"><br /></span></div>
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<span style="background-color: transparent; color: black; font-family: "arial"; font-size: 11pt; font-style: normal; font-variant: normal; font-weight: 400; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">The average home price in Lincoln Park, one of the more stable areas north of the Loop, didn’t decline as much after the crash. It actually climbed 30%, bringing the median price of a single-family home up to $1.9 million in the third quarter, according to the Chicago Association of Realtors. That’s compared to a pre-crash 2006 peak of $1.4 million, according to </span><span style="background-color: transparent; color: #1155cc; font-family: "arial"; font-size: 11pt; font-style: normal; font-weight: 400; text-decoration: underline; vertical-align: baseline; white-space: pre-wrap;"><a href="http://www.chicagotribune.com/business/ct-chicago-housing-forecast-0104-biz-20161230-story.html" style="text-decoration: none;" target="_blank">Chicagotribune.com.</a></span></div>
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<span style="font-family: "arial"; font-size: 11pt; font-weight: 700; vertical-align: baseline; white-space: pre-wrap;">Overall, given that home values have gone up 8% in the past year, Chicago is a seller’s market.</span></div>
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<span style="font-family: "arial"; font-size: 11pt; white-space: pre-wrap;">If you have any questions, please feel free to shoot me an email or give me a call. I’d be happy to help you.</span></div>
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