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Top 20 Real Estate Markets for July 2015

Here are the top 20 real estate markets for July, 2015 according to realtor.com. Here’s a short excerpt from the article:

Based on data for the first three weeks of July, the median list price increased to $234,000, up 7% year over year and 1% over June. Median days on market increased to 69 days, down 7% year over year but up 5% month over month. Housing supply usually peaks in July or August as families rush to close before the school year begins.

 

1) San Francisco, CA
2) Denver, CO
3) Dallas, TX
4) Vallejo, CA
5) Santa Rosa, CA
6) San Jose, CA
7) Midland, TX
8) San Diego, CA
9) Ann Arbor, MI
10) Santa Cruz, CA
11) Detroit, MI
12) Sacramento, CA
13) Stockton, CA
14) Yuba City, CA
15) Columbus, OH
16) Austin, TX
17) Los Angeles, CA
18) Oxnard, CA
19) San Antonio, TX
20) Fort Wayne, IN

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Here In Chicago: Finishing Touches On World’s Largest Rooftop Greenhouse

Finishing touches have begun on what will be the biggest urban rooftop greenhouse in the world. Chicago’s Method soap company will be home to a 75,000-square-foot space — built by urban greenhouse company Gotham Greens.

From Constructiondive.com

The high-tech greenhouse, whose temperature and irrigation will be computer-controlled, demonstrates Method’s commitment to what Chief Greenskeeper Saskia Van Gendt called “the highest standards of green building.”

To support the weighty greenhouse, the company reinforced the roof, which, once planted, will help insulate the factory — designed by William McDonough + Partners and Heitman Architects — and keep heating and cooling costs lower.

Once the greenhouse is fully planted, Gotham Greens will distribute the greens it produces to local stores and restaurants.

“We need to use our urban spaces more efficiently,” Van Gendt told Business Insider. “Rooftop greenhouses are a representation of a model of doing that.”

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Market For Million Dollar Homes in Chicagoland

The market for the million dollar homes in Chicago is heating up. Areas with the most growth include Lincoln Square and Highland Park. Per the following press release:

Luxury detached sales in the city’s Lincoln Square area more than doubled to 14 so far this year, including nine in the second quarter. That compares to six luxury sales during the first six months of 2014 and four or fewer during the first half of the three previous years.

Change also seems to be occurring in the suburbs where million-plus sales are becoming more common in Naperville. That suburb had 19 luxury sales in the first half of this year, including 14 in the second quarter, giving it more luxury activity than such traditional luxury markets as Barrington and Highland Park.

Winnetka remained the most active suburban market for luxury homes, with 51 second-quarter sales at a median price of $1,550,000, and Hinsdale followed with 40 sales at a median price of $1,377,750. Tied for third in sales activity with 34 sales during the quarter were Lake Forest, with a median price of $1,337,500, and Wilmette, where the median price was $1,252,500.

 

Chicago recorded 336 luxury sales for the quarter, 25 percent more than a year earlier. There were 185 detached sales with a median price of $1,450,000, and 151 attached sales at a median of $1,400,000. Detached sales were up 38 percent; attached sales rose 13 percent.

The average market time for luxury city homes during the second quarter was just 106 days for detached properties and 113 days for attached properties.

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Chicago Construction Up 3%, Contracts total almost $4B

Things continue to look up for Chicagoland construction companies. Contracts for commercial and residential construction projects in the Chicago area totaled $3.63 billion in the first five months of the year, up 3 percent from a year earlier, according to Dodge Data & Analytics, a New York-based publisher and research firm.

From Chicago Business:

After enduring a brutal recession several years ago, the companies that pour concrete, wire buildings and install drywall are charging developers a lot more for projects, partly because costs for construction materials have risen so much.

“These guys had four or five really bad years,” said Jim Letchinger, president of Chicago-based JDL Development, which specializes in apartments and condominiums. “Now, it’s a sellers’ market.”

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A Little Bit Of Europe in Uptown

You might get a little confused walking in Uptown next year. Summer, 2016 will bring the first European type street plaza to Chicagoland. From Curbed Chicago ( http://chicago.curbed.com/archives/2015/07/21/construction-has-started-on-chicagos-first-shared-street.php):

The $3.6 million project will transform Uptown’s Argyle Street between Broadway and Sheridan Road, killing all curbs and reducing the vehicle speed limit to 15 mph to create a plaza-like feel to entice more pedestrians and bicyclists to visit the stretch. Engineering and architecture outfit Burns & McDonnell led the primary design duties for the project, which is expected to be completed next summer.

 

 

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Movement To Save Seattle’s “Up” House

Kickstarter campaign has been started to save a Seattle building that has drawn comparisons to the home featured in the movie, “Up”. Over $200,000 is needed by September 15th to move the home via a barge to Orcas Island.

From Yahoo News:

The house, located in Seattle’s Ballard neighborhood, became famous when its elderly owner, Edith Macefield, famously refused an offer of $1 million from real estate developers. Macefield stayed in the home until her death in 2008 at age 86 and developers built around her home.
When the commercial development’s concrete walls sprung up around Macefield’s house, an old farmhouse, the home drew comparisons to the home of balloon salesman Carl Fredricksen in the 2009 animated Disney movie “Up,” earning it the nickname, the “Up house.”

The creepy talking dog featured in the movie was unavailable for comment.