Chicago’s Case-Shiller Index for March is up 7.8% from March 2012. This is the fifth consecutive month it’s been up compared to a year earlier.
It’s back to its April 2001 level. It remained relatively unchanged from February rising only 0.01%. The Case-Shiller Index for Chicago is based on resales of houses in the Chicago Metro Area. It’s published with a 2 month lag.
The Chicago Case-Shiller Condominium Index for March is up 7.0% from March 2012. This is the fifth consecutive month it’s been up compared to a year earlier.
The condo index is back to its April 2000 levels. The condo index rose 0.7% from February.
WHAT THIS MEANS FOR BUYERS
The buyers market is over. You need to be ready to buy when you find a home you want. If you will be financing your purchase, get your mortgage pre-approval before you start touring homes. Email me for recommended mortgage consultants! If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. Own a part of Chicago! Email me to get started!
WHAT THIS MEANS FOR SELLERS
There’s been a lot of press lately about flash (quick) sales in some Chicago neighborhoods. Homes still have to be priced competitively. If your home is priced right when it goes on market, it will sell in a reasonable amount of time. If you’re considering selling your home, get our free home valuation.
ABOUT THE CHICAGO CASE-SHILLER INDICES
The Chicago Case-Shiller Indices are for the entire Chicago Metro Area. Markets do vary by location, price range and housing types. For more market statistics see my other Chicago Real Estate Market articles. For more information on the indices see S&P/Case-Shiller Home Price Indices.
Fran Bailey specializes in downtown Chicago, Lincoln Park and Lake View condos, co-op apartments and houses. She has shared home buying and selling advice since 2006 and written about over 130 Chicago high rises. To schedule showings for any listings, get a 
