National vs. Local Real Estate—What’s Really Happening in Chicago Real Estate!

Real estate Update national vs. local - Don't pay attention to what you hear on social media - Chicago does NOT mirror the US when it comes to real estate. Watch the episode and learn why!

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00:00 Start

01:50 Quick Chicago Housing Stats
Snapshot of May market data: homes sold, under contract, inventory levels, and how the luxury and condo markets are performing.

04:35 Mortgage & Rental Market Trends in Chicago
Breakdown of rent prices, cost per square foot, and neighborhood-specific rent data for Near North and Near West sides.

05:15 Gentrification, Preservation & the 606 Ordinance
A personal story from Old Town leads into a detailed discussion on the new Northwest Housing Preservation Ordinance, which impacts neighborhoods along the 606 trail.

08:13 Tenant Rights & First Refusal Explained
Kyle outlines how the ordinance grants tenants the right of first refusal when a building is listed for sale — and what that means for landlords and investors.

11:18 Legal, Financial & Title Insurance Challenges
Digging into the practical complications created by the new law — from suppressed property values to mortgage and title insurance snags.

14:34 Debunking the National Narrative About Chicago
Anne addresses common misconceptions clients bring up, based on national headlines and social media panic — and explains why Chicago’s story is different.

15:24 Midwest vs. National Real Estate Trends
Stat-packed comparison of inventory, price growth, and home sales between Chicago, the Midwest, and national markets.

21:17 Pandemic’s Lasting Impact on Prices
Kyle and Anne look at how COVID-era interest rates drove dramatic home price appreciation across the country — and what that means today.

22:15 Chicago Inventory vs. National Supply
New stats show that while U.S. inventory has grown, Chicago’s is still shrinking — revealing a key reason for the city’s stable prices.

23:06 Should You Wait to Buy?
Kyle explains why waiting may cost buyers more, and the importance of timing the market strategically even if rates are high.

24:31 Local Advice & Final Thoughts
From working with the right agent to understanding the nuances of Chicago’s micro-neighborhoods, Anne and Kyle offer candid advice to today’s buyers and sellers.

26:11 Chicago Is a Great Place to Live
A passionate reminder that Chicago is thriving — economically, culturally, and in the real estate market. It’s not the scary city the headlines describe.

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With 25+ years of real estate experience selling in downtown Chicago, Anne Rossley is the go-to advisor for corporate executives moving in and out of the city, empty-nesters transitioning to the city and anyone just trying to find their perfect fit in Chicago. Selling each of Chicago’s vast housing options, Anne understands the nuances of historic properties, luxury single-family homes, and lakefront condos/co-ops. She is an industry gem with her sharp sense of humor and low-pressure approach that is always coupled with a splash of sophistication and a little spunk. NOTE: Anne focuses on city business and will happily refer you to the best resource in collar counties/suburbs if this isn't a perfect fit. Make Anne your first call!

Anne (and Baird & Warner) is a member of Leading Real Estate Companies of the World and Luxury Portfolio.


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