Chicago home prices fall in October

Gary Lucido

After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

As expected the Case Shiller home price index was released this morning and showed a continued drop in Chicago home prices for the three months ending in October. Single family home prices fell an additional 2% while condo prices fell an additional 2.5%. That puts single family home prices down 6.5% during the last year and down a total of 27.5% from the peak of the bubble. Condominium prices are down 11.8% during the last year and have fallen 24.5% from the peak. You can see the long term trend in the graph below along with a trendline that I derived from the pre-bubble period. Single family home prices are currently 15% below this trendline.

Chicago home prices fall in October – Getting Real.