In a matter of a few weeks, the City of Chicago will take center stage as it hosts the Democratic National Convention. Chicago has been the host of the DNC XX times since 18XX. While the 1968 convention is storied for the political unrest that occurred, the city more recently hosted the DNC convention in 1996.
A lot has changed nationally and locally in 28 years. Although Pioneer Realty Group wouldn’t be formed for another XX years, the Chicago residential marketplace—for buyers and renters—was operating in full force. Here is a look at some interesting and noteworthy facts and statistics
| Item | 1996 | 2024 |
| Average home sale price—Chicago | ||
| Average home sale price—Gold Coast | ||
| Average home sale price—West Loop | ||
| Average home sale price—Wrigleyville | ||
| Average home sale price—Hyde Park | ||
| Average home sale price—Rogers Park | ||
| Average home sale price—Andersonville | ||
| Average days on the market | ||
| Number of home sales—July | ||
| Number of home sales—first half of the year | ||
| Number of home sales—annually | ||
| New construction starts | ||
| Average mortgage interest rate | ||
| Average property tax rate | ||
| Number of active agents | ||
| Average moving cost | ||
| Average new dishwasher | ||
| Average tv purchase price | ||
| Average homeowner insurance cost | ||
| Average cost to paint | ||
| Affordability rate | ||
What’s hot what’s not
We can take a look at the emerging markets..
Helen,
I have been thinking about marketing that links to the DNC coming to Chicago in August.
Two categories of stories/content come to mind … Statistical based information and anecdotal information.
Statistical Information*: That was then this is now
- Average home sale price
- Average days on the market
- Number of home sales (a given month, quarterly, annually)
- New construction starts
- Average mortgage rate
- Average property tax rate
- Number of active agents
- Other costs related to the homebuying process … what did it cost to move, a new dishwasher, homeowner insurance, cost to paint, a new tv
* These can also be done, potentially, for apartments
Anecdotal
- The new neighborhoods
- The hot neighborhoods
- The cooling neighborhoods
- What’s in what’s out
Among the key questions are:
- Are there databases PRG can access that can gather statistical data?
- Are there neighborhood groups we can tap into for information?