The Chicago Housing Market Boom Actually Calms As Sales Normalize
If you had doubts that the COVID real estate peak was ending, look at this infogram. The total closings in Chicagoland were the lowest in 2 months but more telling, the 2nd lowest since the pandemic real estate boom started in June 2020. October sales data in Lincoln Park reflects the same, a 32% drop in new listings from October 2020 and 10% drop in median sales price (single family homes) and 4% drop in median sales price (condos).
Showings drop also. The big dips every year in November and December reflect the holidays but you can see the impact had on showings last Fall. Even keel moving forward!
