Demand for real estate has been at an all time high these last few months. That demand has been consistent from the city to the suburbs. In this post, we will analyze the movement of people from the city to suburbs and the overall impact on price. We are using data made available and sourced by AnyCurb.
The number of homes for sale in the cities in Chicago is rising at a higher rate post-COVID while inventory in the suburbs is either declining or staying flat.
When looking deeper and comparing two area’s in Illinois, River North (in Chicago, 60654) and Naperville (a popular suburb)…the difference is vast.
Month’s supply of inventory in River North has reached almost 12 months. The last time inventory in River North was this high was in April of 2011 when new development in this area was booming.
Compared to Naperville, where month’s supply continues to decrease and there is nearly 2 months of inventory available. Month’s supply in Naperville has never been so low.
Overall, inventory decreases across all suburbs while increasing in the city.
