Market Update

Stats from the Chicago Association of Realtors, for the week of April 18-24th.

Chicago condo sales (closings):
2006 units/median price
450/$293,875
2007 units/median price
445/$297,000
2008 units/median price
265/$322,000

Chicago condo sales (listings):
2006 units/median price
1080/$284,900
2007 units/median price
1367/$300,000
2008 units/median price
974/$299,900

So closings are way down from the same week last year. The good news is that the number of listings is down as well; we need to burn through some of this inventory so that our market can really kick back into full gear!

Erie Park Farmer's Market

A Farmer’s Market is coming to Erie Park!!

The market will start sometime in mid-June, and will be held on Sundays from 7AM to 2 PM. This will be the only Sunday market in the city. This is very exciting for our neighborhood so please plan to go and support the vendors!

And if you'd like even more motivation to support the market, read The Omnivoire's Dilemma by Michael Pollan; I am reading it right now and can't put it down. You'll never think about food the same way again...

Market Update

Stats from the Chicago Association of Realtors, for the week of April 4-10.
Chicago condo sales (closings):
2006
units/median price
366/$277,500

2007
units/median price
335/$285,500

2008
units/median price
206/$335,700

That's a drop 44% drop in closings from this week in 2008 from the same week in 2006. What does this mean? A lot less is selling. Buyers have a lot more to choose from and market times are very high (in River North, the recent average was 118 days).

So, bottom line, if you're thinking of selling, your place needs to be priced right and in perfect showing condition. Find some great staging tips here.

Chopping Block

Last Saturday we took a cooking class at the Chopping Block in the Merchandise Mart. The theme was "Food and Wine of Argentina" and while we didn't actually get our hands dirty (it was a demonstration class), we learned a lot! On the menu:. Ensalada Completa; Grilled Steak with Chimichurri Sauce; Humita (Fresh Corn Pudding); Flan con Dulce de Leche.

Even better, we got to taste some excellent wines. Who knew that this place sold so many great wines, including a couple of excellent selections from Mendoza in Argentina? The Ben Marco Malbec was especially luscious.

Look for upcoming classes at the Chopping Block here.