A Survey of Chicago Real Estate Market 00' - '05

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Real estate in Chicago has changed dramatically over the past five years and median prices for Chicago properties for sale have increased significantly. In fact, individuals who bought real estate in Chicago in 2000 have seen an appreciation in their home's value of approximately 25%. This is a huge growth rate for real estate in Chicago over such a short period of time. In addition to this, the number of Chicago properties for sale that have sold has has almost doubled over the past five years.

However, while more real estate in Chicago is being sold, the types of properties being sold are different than one might expect. For instance, studio apartments for sale have increased by almost 44% and one bedroom homes have increased by approximately 37%. Real esate in Chicago for sale with more bedrooms have increased in price as well, but not as much as studio and one bedroom homes. Two and three bedroom Chicago properties for sale have increased in price by approximately 24% and 27%, respectively, and four bedrooms home have increased by almost 31%.

Although real estate in Chicago has increased in median price and more homes are being sold, these homes are also spending more time on the market as well. And, in 2005 things changed even more with Chicago properties for sale spending double the amount of time on the market and increased in median price as well.

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