Chicago Condo Directory

July 3, 2009 - The latest Standard & Poor’s/Case-Shiller index held a bit of good news about Chicago real estate for a change. While the prices of Chicago homes prices again in April of this year, it was the third month in a row that they weren’t record-setting drops. Also, 13 cities showed improved numbers compared to March. The numbers are gathered from a 10 and 20 major city index, including Chicago, and are lending credence to the theory that declining home prices may finally be slowing down, according to an Associated Press article.

The overall national home prices fell 18.1% from April ‘08 to April ‘09. Chicago condos still fared better than the national average, with a 13.5% drop in value from April ‘08 to April ‘09. Chicago homes posted an 18.7% yearly drop that was pretty much in line with the rest of the 20 major cities in the index.

The 20 cities in the index are Atlanta, Boston, Charlotte, Cleveland, Chicago, Dallas, Denver, Detroit, Las Vegas, Los Angeles, Miami, Minneapolis, New York City, Phoenix, Portland, San Diego, San Francisco, Seattle, Tampa and Washington, D.C.

As a whole, the index is down 33% from the highest homes values in 2006 and have slid back to 2003 average home prices. But again, it’s encouraging to know that homes and Condos In Chicago have been holding prices better than most other areas.

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