Chicago skyline

The housing market in the Chicago metropolitan area saw a steady improvement in 2015. The median price for all homes sold in the seven-county Chicago metro area rose 8% from 2014 to $211,000. The total number of homes changing hands reached 109,676, a 7% year-over-year increase. Housingwire staffer Ben Lane dives into a market report from a real estate research firm RE/MAX and analyzes what the numbers stand for. Lane writes, 

"The RE/MAX analysis was based on homes sales data collected by MRED, the regional multiple listing service, for the Illinois counties of Cook, DuPage, Kane, Kendall, Lake, McHenry and Will. The RE/MAX report showed that both transaction volume and median sales price were up for the year in each of the seven counties.

The city of Chicago itself accounted for 25% of all sales in the metro area in 2015, with 27,449 units sold, an 8% increase over 2014. The median sales price climbed 7% to $261,500."

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