Episode 6: The Chicago Real Estate Podcast I March 2023 Market Update

The Spring Market is in full swing here in Chicago and everyone's here, except for the guest of honor... INVENTORY!

Late to the party again, inventory continues to be the buzz word everyone's talking about in Chicago real estate.  February numbers actually reported that inventory in the downtown, North and Northwest sides of Chicago are down -35% from February 2022.  To put this in perspective, the 4,800 homes FOR SALE in February is actually HALF of what was listed for sale in 2021 (9,500 homes).  

This has translated directly to a continued uptick in multiple bids across the city with Spring Market buyers competing in earnest for well-priced properties in desirable locations.  Homes are still selling, (and selling in under 30 days if priced effectively!), and buyers are seemingly adjusting to the "new normal" of mortgage rates.  

But that’s not all the news from the market. This month's episode was shot on location at one of the most unique and elegant listings we've marketed in a long time.  451 W. Aldine is an absolute unicorn, (super rare and unique), and you'll get a special walkthrough with Amanda and Samuel.

Other topics discussed and questions submitted this month include:

So sit back, grab your favorite beverage and listen in as we give you a fun and energetic look into the Chicago Real Estate Market.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor. Make sure to subscribe for upcoming episodes.

CONNECT WITH CHICAGO HOME PARTNER:

Amanda McMillan

Chicago Home Partner

[email protected]

773.537.1300

Samuel Ciochon

Chicago Home Partner

[email protected]

312.513.5337

ABOUT CHICAGO HOME PARTNER

Chicago Home Partner, a division of @properties real estate, was founded in 2002 by Amanda McMillan. Amanda and her small team of associates continually rank in the top 1% (top 50) of sales for Chicago, as well as the top agent team in the @properties Bucktown office. Amanda has been featured by Crain’s Chicago, Forbes Magazine and CNBC for her insight on the Chicago city market.

Chicago Home Partner has been recognized for the last 20 years as a leader in Chicago real estate with hundreds of five star client reviews across Yelp!, Zillow, Google and LinkedIn. Our goal is to provided personalized advice to home buyers, sellers and investors founded on data - not headlines. Whether luxury services, first time buyers/sellers, or investors, our experience and guidance is unmatched. Connect with us for a free consultation to better understand your real estate goals and see if buying or selling in Chicago is the right decision for you. https://www.chicagohomepartner.com/

Episode 5: The Chicago Real Estate Podcast I 2023 Spring Market Update

2023 is underway and that means it’s time for Chicago’s Spring Real Estate Market! As predicted, we’ve seen a tremendous amount of early movement in the marketplace starting only weeks into the New Year.

With pent-up demand from buyers sidelined in 2022, mortgage rates steadily decreasing and a continued lack of inventory… multiple bids ARE BACK! This month we take a deep dive into what’s causing multiple bids, why they aren’t always a bad thing and discuss some of the strategies we use to WIN THEM!

But that’s not all the news from the market. This month Amanda and Samuel discuss the following topics and questions submitted by our listeners:

So sit back, grab your favorite beverage and listen in as we give you a fun and energetic look into the Chicago Real Estate Market.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor. Make sure to subscribe for upcoming episodes.

CONNECT WITH CHICAGO HOME PARTNER:

Amanda McMillan

Chicago Home Partner

[email protected]

773.537.1300

Samuel Ciochon

Chicago Home Partner

[email protected]

312.513.5337

ABOUT CHICAGO HOME PARTNER

Chicago Home Partner, a division of @properties real estate, was founded in 2002 by Amanda McMillan. Amanda and her small team of associates continually rank in the top 1% (top 50) of sales for Chicago, as well as the top agent team in the @properties Bucktown office. Amanda has been featured by Crain’s Chicago, Forbes Magazine and CNBC for her insight on the Chicago city market.

Chicago Home Partner has been recognized for the last 20 years as a leader in Chicago real estate with hundreds of five star client reviews across Yelp!, Zillow, Google and LinkedIn. Our goal is to provided personalized advice to home buyers, sellers and investors founded on data - not headlines. Whether luxury services, first time buyers/sellers, or investors, our experience and guidance is unmatched. Connect with us for a free consultation to better understand your real estate goals and see if buying or selling in Chicago is the right decision for you. https://www.chicagohomepartner.com/

As your Chicago real estate market experts, Chicago Home Partner takes immense pride in releasing our annual “Chicago Real Estate Report”.  2022 was quite the year with a rollercoaster ride of interest rates, soaring inflation, the war in Ukraine causing global impacts, and a litany of conflicting real estate headlines in the media.

It’s time to see if our predictions would hold correct, or maybe not!

For longtime readers of the report, you’ll notice that our 2022 report is slightly different.  Since the launch of our podcast, we're leaned into video as it allows us better contextualization of such complex topics.  We've also worked to dive deeper into the numbers, separating and discussing not only the North and Northwest neighborhoods - but the downtown market as well. I believe it’s our greatest collaborative effort to date.

Some of the topics in this month's episode include:

* What happened to home prices in 2022 and what do we predict for next year?

* Did 2022 finally bring an influx of inventory and what about 2023?

* How many homes sold in 2022 and what do we expect for next year?

* Interest rates… What happened, why and what do we predict for 2023?

* Consumer confidence - How did we end 2022 and what’s in store next year?

Whether you are a home buyer, home seller, or just interested in your Chicago market, it is important to be up-to-date on local market conditions. Tune in and find out what's happening in Chicago right now.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor.  Make sure to subscribe for upcoming episodes.

CONNECT WITH CHICAGO HOME PARTNER

Amanda McMillan

Chicago Home Partner

[email protected]

773.537.1300

ABOUT CHICAGO HOME PARTNER

Chicago Home Partner, a division of @properties real estate, was founded in 2002 by Amanda McMillan. Amanda and her small team of associates continually rank in the top 1% (top 50) of sales for Chicago, as well as the top agent team in the @properties Bucktown office. Amanda has been featured by Crain’s Chicago, Forbes Magazine and CNBC for her insight on the Chicago city market.

Chicago Home Partner has been recognized for the last 20 years as a leader in Chicago real estate with hundreds of five star client reviews across Yelp!, Zillow, Google and LinkedIn. Our goal is to provided personalized advice to home buyers, sellers and investors founded on data - not headlines. Whether luxury services, first time buyers/sellers, or investors, our experience and guidance is unmatched. Connect with us for a free consultation to better understand your real estate goals and see if buying or selling in Chicago is the right decision for you. https://www.chicagohomepartner.com/

Before we wrap up 2022, it’s time to take a look at what happened in the December Chicago real estate market with Amanda McMillan and Samuel Ciochon of Chicago Home Partner.

TAXES have been the topic of choice this holiday season for property owners, but Amanda and Samuel make sense of some major headlines and try to explain why we’ve seen this recent increase. They also go through some great suggestions for home owners to make sure they’re taking advantage of cost savings.

From the COVID reassessment to what buyers and seller should be doing in preparation for 2023, the team has you covered.

Some of the topics in this month's episode include:

* Why did my tax bill go up so much?

* What is the COVID reassessment and why does it matter?

* What should buyers and sellers be doing to prep for 2023?

* How should I go about interviewing an agent?

* What is a homeowner’s exemption and how do I get it?

Whether you are a home buyer, home seller, or just interested in your Chicago market, it is important to be up-to-date on local market conditions. Tune in and find out happening in Chicago right now.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor. Make sure to subscribe for upcoming episodes.

CONNECT WITH CHICAGO HOME PARTNER

Amanda McMillan

Chicago Home Partner

[email protected]

773.537.1300

ABOUT CHICAGO HOME PARTNER

Chicago Home Partner, a division of @properties real estate, was founded in 2002 by Amanda McMillan. Amanda and her small team of associates continually rank in the top 1% (top 50) of sales for Chicago, as well as the top agent team in the @properties Bucktown office. Amanda has been featured by Crain’s Chicago, Forbes Magazine and CNBC for her insight on the Chicago city market.

Chicago Home Partner has been recognized for the last 20 years as a leader in Chicago real estate with hundreds of five star client reviews across Yelp!, Zillow, Google and LinkedIn. Our goal is to provided personalized advice to home buyers, sellers and investors founded on data - not headlines. Whether luxury services, first time buyers/sellers, or investors, our experience and guidance is unmatched. Connect with us for a free consultation to better understand your real estate goals and see if buying or selling in Chicago is the right decision for you. https://www.chicagohomepartner.com/

We just wrapped up November 2022 and it’s time to dive in and take a look at the Chicago real estate market.  There's been a LOT going on and some incredibly toxic headlines that have made their way across your inbox.  Amanda McMillan and Samuel Ciochon cut through the spin and chat about home prices, interest rates, new mortgage products to deal with rising rates, the growth of off-market inventory and what to look for heading into the spring market. 

Some of the topics in this month's episode include:

Whether you are a home buyer, home seller, or just interested in your Chicago market, it is important to be up-to-date on local market conditions. Tune in and find out happening in Chicago right now.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor.  Make sure to subscribe for upcoming episodes.

CONNECT WITH CHICAGO HOME PARTNER

Amanda McMillan

It's October 2022 and it’s time to cut through the headlines and REALLY see what's happening in the Chicago real estate market. Amanda McMillan and Samuel Ciochon talk about home prices, interest rates, inventory and how to know if now is the right time for you to buy or sell. Some of the topics in this month's episode include:

Whether you are a home buyer, home seller, or just interested in your Chicago market, it is important to be up-to-date on local market conditions. Tune in and find out happening in Chicago right now.

Chicago Home Partner is your resource for all things real estate in Chicago. We're focused on providing data-inspired advice and education for today’s Chicago home buyer, seller or investor.  Make sure to subscribe for upcoming episodes.  

CONNECT WITH CHICAGO HOME PARTNER 

Amanda McMillan