In part 2 of this blog post series I shared Lawrence Yun’s chart showing that the number of existing home sales have dropped back to 1998 levels.
Buyers considering a new condo in downtown Chicago need to take a good look at Gail Lissner’s chart which I recreated below. This year 4700 new condos in downtown Chicago will come on market. In 2010 only 400 new condos will come on market! Thus, this year buyers will have far more choices and far more negotiating power for a new condo in the Loop and surrounding areas than next year!
Just remember, call or email me before you start visiting new condo sales offices!
Similar Posts:
- Downtown Chicago New Condo Market Still Strong
- Great time to buy a condo in downtown Chicago, if you’re careful
- Downtown Chicago condos for sale in 2nd quarter continue decline, average price rises
- Chicago Tribune Reports “Record condo numbers to saturate downtown”
- Financing options for some new Chicago condos improving
