Chicago, IL (PRWEB) August 07, 2013
The Real Estate Marketing Insider declared Chicago as the winner of its “Market to Watch” award, a title occasionally given to a major market that shows extreme potential for growth in real estate. Chicago was awarded the “Market to Watch” title after new data showed strong increases in price, sales, and dollar-volume all across the city.
The numbers for the first six months of 2013 were featured in a July 17 article in the Chicago magazine. The data was taken from a report released by Midwest Real Estate Data LLC, and showed that 2013 has brought Chicago long-awaited recovery from the housing crash of 2007. The most significant change year-over-year has been home sales, numbering just under 8,000 so far this year. That marks a 30 percent increase from July 2012. Meanwhile, market time for homes was down to 96 days in July; the first time in over a year that it’s been below 100 days. Distressed property sales are down, numbering less than a third of total sales. Furthermore, year-over-year home prices have increased over 8 percent. All of this data points to a strong recovery for Chicago’s housing market, even if it has come later than other major cities.
The Insider celebrates the new numbers coming out of Chicago, and suggests that given a few more months, it might become one of the best real estate markets in the nation. Chicago offers a big-city lifestyle with a Midwestern attitude – one of the only major cities with that particular combination. The diverse landscape of the city’s housing market means it has potential to grow in almost every major housing sector, from condo living and vacation rental by owners to traditional suburban homes. With the housing market in Chicago now showing signs of recovery, marketing for real estate agents will become that much easier. REMI is proud to award the newly-recovering Chicago area the title of “Market to Watch.”
The Real Estate Marketing Insider named Chicago its “Market to Watch,” noting its strong recovery numbers in the first half of 2013. The “Market to Watch” title designates a market with outstanding potential for growth in real estate.
About the Real Estate Marketing Insider:
The Real Estate Marketing Insider is an online magazine covering the real estate market in North America. For breaking news, trend analysis, and expert opinions visit http://www.realestatemarketinginsider.com.