Hello and a welcome belated Happy New Year and a new decade.
This Blog is about the 2010 Chicago Housing in review. Hello, everyone, this is Charles McShan with Century Universal Real Estate. My office address is 7300 N.Western Ave Suite I CHICAGO Ill..60645. It has been a while since I posted my last Blog. We are 1 month into the New Year and the weather in Chicago has been milder than other parts of the country. A few people have asked me how was the 2019 Housing Market for the city of Chicago? They also asked will the New Year and decade of 2020 be a good one? With this blog post, I will attempt to answer the 1st question. We will also look into what my company Century 21 Universal was able to accomplish in 2019 in regards to our local market. We will then conclude with the local weather events that have affected my neighborhood and other Chicago neighborhoods for the worse.
The Chicago 2019 Housing Market In Review Area by Area
The year 2019 year was a Seller’s market with a low inventory of homes to chose. Homes sales varied from one area to the next. For those out there who like to read charts and graphs, this Blog post will be for you. I have placed charts here that will help you understand what happened in every Chicago neighborhood. These charts and graphs were provided by the Chicago Association Of Realtors which I am a proud member
Let’s start off by reviewing the housing charts pertaining to December 2019 published by the Chicago Association of Realtors. Please click here Chicago Association. of Realtors report for December 2019
Next, let’s follow up by looking at the Chicago housing chart as it applies to January 18th. Please click here.>Chicago Association of Realtors January 18th Housing report for the City of Chicago.
Next for people out there interested in the Lender report here is the Lender-Mediated Report for December 2019 for the City of Chicago. Please click here > Lender-Mediated Report December for 2019
Are you an investor who is thinking about buying an investment property in the Chicagoland area? Then please read this article.http://noradarealestate.com/blog/chicago-real-estate/
Individual 2019 Housing Charts For Every Chicago Area
Let’s now look at select Chicago neighborhoods and see how they fared last year.
1; Rogers Park RogersPark 2019
2: West Ridge Westridge
3 Uptown Uptown 2019
4:Edgewater Edgewater 2019
5: Lincoln Square LincolnSquare 2019
6: Albany Park AlbanyPark 2019
7: North Park NorthPark 2019
8 Lakeview Lakeview 2019
9: Lincoln Park Lincoln Park 2019
10: Logan Square LoganSquare 2019
11: Belmont Cragin BelmontCragin 2019
12 Austin Austin 2019
13: The Loop The Loop 2019
14: Near North Side NearNorthSide 2019
15: Near South Side NearSouthSide 2019
16: Near West Side NearWestSide 2019
17: Bridgeport Bridgeport 2019
18 Brighton Park BrightonPark 2019
19: Archer Heights Archer Heights 2019:
20: Chicago Lawn Chicago Lawn 2019
21: Ashburn Ashburn 2019
22: Mount Greenwood MountGreenwood 2019
23 Morgan Park MorganPark 2019
24 West Pullman WestPullman 2019
25 Hegewisch Hegewisch 2019
26:South Deering SouthDeering 2019
27: Chatham Chatham 2019
28: South Shore SouthShore 2019
29: Kenwood Kenwood 2019
30: Grand Boulevard Grand Boulevard 2019
31:Hyde Park HydePark 2019
32: Woodlawn Housing 2019
33: Norwood Park NorwoodPark 2019
34: Jefferson Park JeffersonPark 2019
35: Dunning Dunning 2019
36: O’Hare OHare 2019
37: Portage Park Portage Park
38: Irving Park Irving Park 2019
39: Avondale Avondale 2019
40: Edison Park EdisonPark 2019
41: Hermosa Hermosa 2019
42: West Town West Town 2019
43: Humboldt Park Humboldt Park 2019
44: West Garfield Park West Garfield Park 2019
45: East Garfield Park East Garfield Park 2019
46 North Lawndale North Lawndale 2019
47: South Lawndale South Lawndale 2019
48: Lower West Side Lower West Side 2019
49: McKinley Park McKinley Park 2019
50: New City New City 2019
51: Garfield Ridge Garfield Ridge 2019
52: Clearing Clearing 2019
53: West Lawn 2019 West Lawn 2019
54: Beverly Beverly 2019
55: Auburn Gresham Auburn Gresham 2019
56: Riverdale Riverdale 2019
57:Roseland Roseland 2019
58: Pullman Pullman 2019
59:East Side East Side 2019
60: Burnside Burnside 2019
61: Calumet Heights Calumet Heights 2019
62: South Chicago SouthChicago 2019
63: Avalon Park Avalon Park 2019
64: Greater Grand Crossing Greater Grand Crossing 2019
65: Washington Park Washington Park 2019
66: Fuller Park Fuller Park 2019
67:Douglas Douglas 2019
68: Armour Square Armour Square 2019
69: Oakland Oakland 2019
70: Englewood Englewood 2019
71: West Englewood West Englewood 2019
72: Forest Glenn Forest Glen 2019
Wow! The Chicago 2019 Housing Market In Review had .72 detailed reports. In the beginning, I had the plan to do a few area reports that would have been reflective of the whole city. I stopped at around 12. But then I thought about it and said hey! somebody might be offended if I do not report on their area so I decided to cover all 72 areas. After all, a complete Chicago based Real Estate Broker is expected to cover the complete city. That is my job, I care about each and every Chicago area. From the Northside to the Westside all the way to the Southeast side and turn around and go to the Southwest Side. We can not forget the Chicago Loop and the Central areas dead that make up the heart of the city.
Yes, these reports give a detailed analysis of the selling of Residential properties in every Chicago Neighborhood for the year 2019. So if you want to check out every Chicago Neighborhood feel free to do or if you only want to know what happened in your local area once again you have that option. I would like to share one more chart with you and here it is below..
The Century 21 Universal Housing Chart For The West Ridge Area
This chart shows the Market Share Totals of my office Century 21 Universal in the Zone 8002 in the cIty of Chicago. Zone 8002 is the West Ridge neighborhood where our office ( see the photo above) is located. This chart also shows that the year 2019 was a good year for our office in the West Ridge area. We worked hard to recognized in our local area of West Ridge and we want the year 2020 to be even better. That is our office resolution and also my personal goal.
Chicago Housing Report For January And The 1st Week of February For The Year 2020
since we are in February of 2020 are you curious about Chicago home sells in the month of January please click here >January 25th Housing report for 2020
Now let’s follo1 that up by looking at the HousingChart covering the first week of February 2020
lease click here> Chicago Housing report for the Week Ending February 1, 2020
That concludes The Chicago 2019 Housing Market in Review. I hope these charts for the ones who requested them were beneficial to you. If on the other hand, those charts were boring, put you to sleep were too deep and complex for you to understand do not worry about it. I am here to break those charts down and let you know precisely what happened in the neighborhood that you are interested in Just contact me by way of my contact information below.
What Will The Year 2020 Do For The Chicago Housing Market?
Good Question, well the year is still young and we can only go by what the experts say and here what the Crain’s Chicago Business says on that subject.
Please click here. https://www.chicagobusiness.com/residential-real-estate/when-flat-fine-forecast-chicago-housing-market
Here is another article with a different perspective
Please click here http://www.homebuyinginstitute.com/news/could-chicago-become-a-buyers-market/
This subject or debate will go on and on. We do not know for sure. It could be another Seller’s Market or it could be a Buyer’s Market or the market can remain flat. You can think about those 3 points of view and then let them affect your judgment. Or if You feel it is time for You to sell your home and move on with your life. If you are thinking about selling your home this year I wrote a past blog post on this subject please click here https://www.cmacakachicagolandrealtor.com/2019/07/selling-my-home-in-the-chicago-area/
On the other hand, if you feel that 2020 is the year to buy that home You desire then act on it and start actively looking for that home.
What Weather Events Are Affecting The Shoreline Of The City Of Chicago
Speaking of Photos and Videos Last year I wrote a blog about the Rogers Park area of Chicago. It borders on the shores of Lake Michigan. A few years back Lake Michigan had extremely low water levels. that changed last year and our water levels are very high. Even though we have had a mild winter we have had at times strong winds and these winds combined with the high water levels have battered our shorelines and our Northside beaches along with several lakefront properties have taken a severe beating.
The Rogers Park area which I wrote last year, I talked about the 3 lakefront beaches in our area. They are the Pratt ave beach, the Loyola Park beach, and the Howard ave Beach. All 3 beaches have been suffered erosion but the Howard ave beach the smallest of the 3 has been completely destroyed. Can it be rebuilt? Maybe but at a great expense. The city of Evanston beaches has been affected as well as all beaches in all cities bordering Lake Michigan.
The other day I was at Howard Beach. I made a video and I took some photos. It was not a good sight but no matter where you are if you live close to the water, it can be a pleasant experience for years and then the water can turn on you. That is life, for anyone choosing to live close to the water’s edge. They will have to co-exist with the elements for the better or worse. Here are photos of some of the damage done to the Howard and the Loyola Park beaches in the Rogers Park area of Chicago.
Here is a short video of the damage done to the Howard st beach.
This is my first Video, his Video shows the waves on a windy cold day battering the shoreline at Howard Beach and the breakwaters at the nearby Rental complex. This area will take a long time to recover if ever. This area was not the only part of the Chicago shoreline to be affected. The damage to the South Shore area of the city was greater than the Northside. I did not get a chance to travel there but I was told by others. over there and view it personally Videotape it you can read all about it by reading Mary’s Mitchell of the Chicago Sun-Times article entitled Troubled Waters. It was published in the February 14th, 2020 newspaper on page 18. and I have copied it here. Check it out.
Is there a practical solution to this problem? No there is not. This is not just a Southside problem or a Northside problem. Is it a State problem or a Federal problem? In reality, there is not enough money to build breakwaters and barriers from one side of Lake Michigan to the other side. Truthfully speaking the water levels have risen in all of the Great Lakes, Rivers worldwide are overflowing their banks. Cities like Venice are being flooded constantly and the Oceans levels are increasing. Money cannot solve these worldwide events. Globally mankind is in conflict with the environment and the permanent solution will not come from man/money but will come from a higher source.
For the time being, we must cherish our local beaches while we still have them. I fondly remember splashing in the waters off the shores of Jackson Park Beach and the Rainbow beach when I was young. Do you remember your times on the Chicago beach when you were young? What beach did you and your family spend your summer days and nights on?
Yes, this was the Chicago 2019 Housing Market in review, what did you learn from reading this blog? We covered a lot. Thru research looked at the housing situation as it pertained to every Chicago neighborhood in the year 2019. There was a 2019 chart of my local West Ridge area and this chart showed how my office did locally in our area. Next, to answer how the 2020 year will affect the housing market in Chicago we read 2 different points of view. We concluded by looking at how the weather and has affected our area. My next blog will talk about how the 2019 Housing Market as it applied to the suburbs of not only Cook County but all the surrounding Counties.
I will also answer the second question that many people have asked me and if you are planning to buy a home you have also asked this question. Why are the property taxes so high in not only Cook County but the majority of the Counties surrounding Chicago? I cannot afford to continue to live here and pay all these taxes. Can the problem be solved? This is a complex topic with more than one answer and everyone will not agree at the end of the day but we will tackle that subject the next time.
In conclusion, I want to thank you for reading this Blog entitled the 2019 Chicago Housing Market in Review. if you have any thoughts and comments please post them. Have a great day
Century 21 Universal
7300 N.Western Ave Suite I Chicago Ill 60645