Chicago Real Estate News: Spring Market Trends

Along with more hours of sunlight and — did we just hear a bird chirping? — you know it’s spring in the Midwest when the real estate market starts to pick up after the long freeze of winter.

According to Kristine Menas, a broker with Dream Town in Chicago, she expects this spring and summer in the city to mirror the competitive levels of the past few years, with multiple offers and pre-market sales continuing at a healthy clip.

“People who have been waiting for their value to appreciate since the downturn are selling,” she says, particularly in desirable neighborhoods like Lincoln Park, where prices have exceeded pre-2008 levels. Low inventory plus low interest rates means the city’s a seller’s market.