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Buyers’ Market in the Chicago area

Housing downturn means today’s shoppers pay less for bigger homes and lots

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The decline in the housing market over the past two years has turned the advantage to homebuyers, many of whom have acquired a larger house, a bigger yard, or a better neighborhood than they might have been able to afford before the downturn. As evidence, here is a comparative look at similar homes that were sold in 2007 and 2009 in several Chicago neighborhoods and suburbs. All square footage is approximate and is based on the real-estate listing for each home; interior space does not include bathrooms, hallways, foyers, laundry rooms, enclosed porches, balconies, and decks. (Midwest Real Estate Data, the Mario Greco Group at Prudential Rubloff, and Jory Rozner Strosberg of Zipple Property Group provided information for this report.)
 

CHICAGO

BUCKTOWN

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