As the financial markets reached new highs and mortgage rates new lows, demand for real estate remained strong throughout the nation. In Chicago, continued high demand was seen in the suburbs and in certain residential parts of the city. The downtown market, especially condos in luxury high rises in the Gold Coast. Streeterville, River North, Loop, West Loop and South Loop, showed continued low demand. In that area, we saw a 14 months supply by the end of the year. This indicates a strong buyers market. On a positive note, we saw the average sales prices go up in the last three months of 2020.
Market Snapshot - City of Chicago
(the city of Chicago market snapshot represents the residential real estate activity within the 77 officially…
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