The Chicago Case-Shiller Condominium Index for April was 142.9. The condo index was up 4.4% from April 2016. This is the 54th month in a row that the index has been higher than the same month a year earlier.
The index was up 1.4% from the March 2017 index. April indexes are typically higher than March 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 was up 4.0% from April 2016. This is also the 54th month in a row that this index has been higher than the same month a year earlier.
The index was up 1.0% from March. As with the condo index this index typically rises from March to April.
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
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, contact me for a free market analysis.