Market Conditions - June 22, 2006 by Carla L. Davis
2006 has been a buyers market so far in the "windy city." But are the winds changing? Chicago, Illinois, is seeing a substantial inventory of homes for sales, meaning buyers are less motivated to make offers quickly. But experts still contend that the market has been strong for the first quarter of this year. "Prices continue to rise even though it remains a buyers market. New construction condominiums are averaging $275,000, while single-family homes could run much higher." And rises in prices are good news for a city that historically sees only 3 to 8 percent appreciation rates. Newer neighborhoods saw 20 percent jumps in recent times, but are not expected again any time soon. Chicago neighborhoods and suburbs continue to see steady appreciation. The North Shore is seeing what many call a "traditional market." Buyers are still wary of a supposed housing bubble and are waiting a bit longer to make a buy. Experts recommend to have your homes in ready to sell condition, as the best priced and best conditioned homes are selling the most quickly. | 
