Is Chicago’s Real Estate Market Overpriced?
This week a real estate industry research company released a report on the 100 most overpriced housing markets in the country. Topping the list is Santa Barbara, California, with a median price of $567,300, 80% overvalued. Naples, Florida is next at 74% over. The good news is that Chicago is still considered a fairly-valued market. The median home price here is $266,300, or just 14% over the equilibrium value.
