Chicago Suburbs Lead the Way in Sales Price Growth in ChicagoLand of Single-Family Homes by Harold W

For long-term investors in single-family homes in the Chicago suburbs – such as SpringView Investments – the news of increased sales prices of existing homes is good news indeed.

According to the Mainstreet Organization of Realtors (MORe), home sales prices in suburban Chicago grew 4.0% during the first quarter of 2016, to $210,000.

“That stood in contrast to sales in the whole nine-county Chicago Primary Metropolitan Statistical Area, which totaled 8,386 in March, a 0.8% increase year-over-year, according to the Illinois Association of Realtors (IAR),” said the report.

The MORe study indicated that the biggest reason for the sale price gain came from increases in the prices of foreclosed properties.

SpringView holds several properties in suburban Will County, where the median sale price rose 6.7% from last year to $189,000; in Lake County, where median sales prices went up 6%. By contrast, prices rose 2.9% to $215,000 in urban Cook County.

Please click here.For the full article from Chicago Agent Magazine.

For more information on why your should consider investing in a professionally managed portfolio of single-family homes, please contact Harold Willig at 917-209-4452 or harold.willig@springviewinvestments.com