Quote:
Originally Posted by IrishIllini
Chicago MSA is more less flat. Illinois outside of the Chicagoland area is shrinking. With the pandemic, property values are increasing quickly in most suburbs. Single family homes in the city move quickly, but condos appear flat.
https://www.chicagobusiness.com/resi...rdrive-january |
the bolded does appear to be the general trend during the pandemic, but i monitor the value of our condo on the online estimator websites, and taking the median estimate from zillow, trulia, and redfin, our condo is allegedly up ~8% from last february according to them, which i find surprising. (i realize that 8% YOY is somewhat paltry for our urban-darling coastal city dwellers, but in stagnant-ass chicago during a global fucking pandemic, you'll take that all day long.)
it helps that our condo is pretty damn big by city standards (3 bed 3 bath, 2,300 SF), and what i've heard from realtor friends is that available inventory of larger homes is so damn low in the city at the moment that anything with a 3rd or 4th bedroom or a den or bonus room (even if it's a condo) has been getting immediately snatched up by those seeking to upsize for a dedicated home office.