Chicago’s Real Estate Market

It is evident that Chicago’s real estate market is back on track thanks to the rising prices and sales. As such, real estate agents are having an easy time getting their sales target reached. Nonetheless, the most determining factor is the decline in sales of distressed properties, and one may argue that we are finally off the hook with house bubble meltdown.

Nevertheless, the catch, if you look keenly is that the recovery has not been uniform across town. Research shows that the south and west sides are still experiencing the aftermath of housing bust whereas real estate business near downtown and on the north side seems to have picked up well. You can easily point out the Kenwood and Hyde Park, which have transformed into oases of good business that never ended with anything better but short sales and foreclosures.

Either way, it is important to consider the dynamics of time in that, how bad was it when the meltdown hit the market in these regions, and again, how much have things turned up as of now? So it is easy to pick three zip codes and examine them in proportion to the highlighted queries.

The areas chosen were 60617 and 60614, which stand for Lincoln Park and 60605, which is mostly South Loop though it also falls within the other two zip codes. Taking into consideration that data is highly variable within a month’s time, it was only wise to look at it on a 6-month average.

According to the graph captured by MLS, 60617 responded much sooner to the meltdown but also picked higher than the other two zip codes. In addition, all zip codes showed a significant increase since the beginning of 2013 though 60614 takes the crown here, as it never recorded a rise above 20 percent distressed sales. As of 60605, it started out earlier than 60614 but they ended up on the same level. Nevertheless, this does not come as a surprise, but it answers the big question, whether Chicago is out of the meltdown uniformly or not. It did not.

As for Majeed Ekbal, he has more than 15 years in marketing and new business development, which has helped him develop global marketing campaigns. He has also led specialized direct and digital marketing, partnership development as well as budget management.

He is the man behind digital and social media marketing in all business segments by integrating such policies in marketing research, installation, strategy development and implementation. Majeed demonstrates excellent skills in comprehensive marketing strategies and charity awareness that generate revenue while assembling and mentoring diverse teams.

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