The Chicago Case-Shiller Condominium Index for March was 141.2. The condo index was up 5.1% from March 2016. It’s back to its February 2009 level.
The index was up 1.7% from the February 2017 index. March indexes are typically higher than Februray indexes since the market is coming out of the slower winter season.
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 March was 137.0. It was up 5.1% from March 2016. It’s back to its January 2009 level.
The index was up 1.1% from February. As with the condo index this index typically rises from February to March.
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 over. You need to be ready to buy when you find a home you want as you may encounter competing offers. 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, get our free home valuation.
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 
