Chicago has taken its share of grief in recent years, owing to a soaring crime rate, a virtually bankrupt government and a double helping of unfavorable press. Here's some better news, at least for home buyers, via Chicagoist:
Though the median sales price for Chicago single-family homes is climbing, the good news for home buyers is that most places in the city are still selling for below asking price, according to sales data compiled by OpenHouse.
While city renters face a market they increasingly can’t afford, buyers can still find deals in many—but not all—neighborhoods. Homes in hot spots like Wicker Park, West Town and Logan Square still fetch a premium and, according to Crain’s, are selling at least 25 percent faster than last year—a bump some attribute to the opening of The 606 trail.
In the last 30 days, 1,437 of the more than 2,500 homes sold in Chicago went for below asking price, the data says, while 643 sold for asking price and 495 went for more than asking price.