Are we ever be truly surprised to hear the market prices rising for Chicago homes? 2020 is said to bring an estimated 1% (and rising) increase rate to all real estate within the city.
If there is every a time to lock a property down in the area, it is now.
With a population of over 8.8 million, Chicago is the third-largest metropolitan area in the country. The options are endless when looking for a place to live. Between Zillow and Realtor.com, there are over 16,000 homes for sale throughout the city. The median listing price residing at around $300,000 as of late last year. Unlike the surrounding cities, Chicago homes are appreciating in value. There is a steady increase of appraisals for homeowners as the years’ pass.
As with anything else that involves a heavy sum of money along with a long-term commitment, research must be done before jumping in head-first. Looking at Chicago as a whole, why is it a good place to invest in property? Being one of the most equitable markets in the country, it allows a lot of room for versatility as a renter or buyer. With unemployment rates at an all-time low and economic prosperity at an all-time high; this opens the door for huge opportunities for consumers in the real estate market. Around 50% of the Chicago census are renters. It is also very rare to find a home, apartment, or condominium that is not fully restored and modernized.
It is almost impossible to enter the marketplace as a possible buyer without the foundational knowledge needed to achieve the best results. The Chicago Real Estate Institute is here to provide the foremost accredited real estate schooling there is. Offering flexible and affordable classes for all, become your own broker and skip the hassle of depending on others to find your dream home. Also, make a lucrative income from it as well. The Chicago housing market is at a steady and ongoing rise, the sooner you’re able to understand the market, the sooner you can be making money from it as well.