Once again the Chicago real estate market had an incredibly strong month in June. It came close to setting a 25 year (probably an all time) record in home sales. Let’s ignore the meaningless comp to 2020 and focus on the fact that June closings were 36.3% higher than June 2019. You can see just how dramatic this was in the graph below which has all the June data points flagged in red. In addition, the green 12 month moving average indicates that the last 12 months have been the highest in about 15 years (just eyeballing it). And note that, prior to the pandemic, home sales were in a downward trend.
While the sales of single family homes did jump significantly condo sales went up even more dramatically – 40.5%!