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Chicago IL Real Estate - Understanding the Market |
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By Lumbardo
 Buyers Market
Those who are currently planning to purchase a property in Chicago would need to study the recent trends in the market. Currently Chicago IL real estate is definitely a buyers market. The statistics indicate that there is a drop in the listing prices and in the sales prices which makes for great news for buyers. These figures and trends are likely to remain unchanged in the near future as the job market too is slowly picking up.
The property prices are down and the home sales are up. However, foreclosures still continue to flood the market. Buyers would need to understand what this particular trend means to them.
The Figures
In the Chicago IL real estate market, the home sales went up more than 71.6% in November, 2009 when compared to the same period in last year according to the Illinois Association of Realtors. The median home prices have fallen down by 10.1% in the last year.
The current trends in the Chicago IL real estate market show that the sales of the existing homes were low since the |
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