Urban real estate in Chicago area: Experts weigh in

CHICAGO (WLS) — Maybe you’ve been sitting on the sidelines, not sure if you want to jump into the real estate market.

ABC7 Chicago has heard stories of sellers getting multiple offers, buyers paying more than the asking price and now some people can move anywhere because of remote working.

So what does all of that mean for Chicago’s real estate market right now, as the new year approaches, marking nearly two years since the start of the pandemic?

WATCH: Our Chicago: State of the real estate market Part 1

“If a home is priced correctly, sellers are still seeing multiple offers, above ask sometimes, they are going under contract quickly and in general in Chicago median close prices are up,” said Antje Gehrken, president of the Chicago Association of Realtors and president and designated managing broker for A.R.E Partners. “That being said, it’s still a great time to be a buyer. The market is stabilizing; buyers have a little bit more breathing room and plus…

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