{"id":209758,"date":"2010-01-21T17:48:46","date_gmt":"2010-01-21T22:48:46","guid":{"rendered":"http:\/\/chicagopressrelease.com\/?p=12117"},"modified":"2010-01-21T17:48:46","modified_gmt":"2010-01-21T22:48:46","slug":"chicago-area-condo-prices-back-to-%e2%80%9804-levels","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/209758","title":{"rendered":"Chicago-area condo prices back to \u201804 levels"},"content":{"rendered":"

\"\"It may be little solace to condo owners in the Chicago area, but they should take heart: They’re not as bad off as single-family homeowners.<\/p>\n

Condo values in Chicago are back to their early 2004 levels, despite the fact that prices fell 8.5 percent in the 12 months that ended in October.<\/p>\n

During the same time period, single-family home prices fell 10.1 percent, according to data released Thursday by Standard & Poor’s\/Case-Shiller, which publishes the widely watched monthly home price index. <\/span><\/p>\n

That means single-family homes are selling for what they did in May 2003.<\/p>\n

During October alone, condo prices in the eight-county Chicago area rose 0.2 percent, compared to a 1 percent drop for single-family homes.<\/p>\n

Among the larger metropolitan areas, Chicago was the only market in which condos did not depreciate in value quicker that single-family homes.<\/p>\n

“Chicago seems to be holding out,” Maureen Maitland at Standard & Poor’s said of the condo market. “I don’t know whether that’s going to hold up. This time a year ago, basically all of the condo markets were holding up better than single-family homes.”<\/p>\n

The data is only a snapshot in time, and it’s still not a pretty picture.<\/p>\n

“We’re definitely still in an annual decline,” Maitland said. “It’s just not as bad as it was this time last year.”<\/p>\n

S&P\/Case-Shiller releases its report on November home prices Tuesday.<\/p>\n

mepodmolik@tribune.com<\/a><\/p>\n

Read the original article from Tribune News Services<\/a>.<\/p>\n

<\/img><\/a>
\n<\/img><\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

It may be little solace to condo owners in the Chicago area, but they should take heart: They’re not as bad off as single-family homeowners. Condo values in Chicago are back to their early 2004 levels, despite the fact that prices fell 8.5 percent in the 12 months that ended in October. During the same […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-209758","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/209758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=209758"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/209758\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=209758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=209758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=209758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}