Chicago Home Sales Post First Positive Gain in 8 Months

TWL_2015_mar_blog15February was a good month for existing home sales in Chicago. According to the Chicago Tribune, existing home sales in the city increased 3.9 percent last month, which is the first monthly year-over-year gain since June 2014. In addition to the boost in sales, home prices were also up in February. The median price for homes sold last month was $212,000—a 20 percent increase over the $174,990 median price one year ago. Chicago’s improved numbers last month are significantly higher than the national average, which averaged a 1.2 percent increase in sales and a 7.5 percent increase in the median home price.

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Image Source: Jeremy Atherton