The Chicago Case-Shiller Condominium Index for February was 139.1. The index was up 0.3% from the January index. It had fallen month over month for the last 3 months.
The condo index was up 5.4% from February 2016. It’s back to its February 2009 level.
The Case-Shiller Condo Index for Chicago is based on resales of condos in the Chicago Metro Area. It’s published with a 2 month lag.
The Chicago Case-Shiller Index for February was 136.6. The index was up 0.2% from January. Last year from January to February the index fell 0.3%.
It was up 6.2% from February 2016. It’s back to its January 2009 level.
The Case-Shiller Index for Chicago is based on resales of houses in the Chicago Metro Area. It’s also published with a 2 month lag.
WHAT THIS MEANS FOR BUYERS
The softer winter market is ending. 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 viewing homes. Contact me for recommended mortgage consultants. If you’re paying cash, get a proof of funds letter from your accountant or banker ready to go. Contact me to get started.
WHAT THIS MEANS FOR SELLERS
If your home is priced right when it goes on market, it should sell within a few months. Luxury homes do take longer. Most buyers have to finance their purchase. Your home will need to appraise for at least sale price for financing to be approved. The appraised value is primarily determined by recent comparable sales. If you’re considering selling your home, contact me for a free market analysis.