Condo Price Index for Chicago, Illinois
CHXRCNSA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
196.66
Year-over-Year Change
5.67%
Date Range
1/1/1995 - 5/1/2025
Summary
The Condo Price Index for Chicago, Illinois measures the change in prices of condominium units in the Chicago metropolitan area. This metric is closely watched by real estate analysts and policymakers to gauge the health of the local housing market.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Condo Price Index for Chicago tracks the average sale price of condominium units across the city and surrounding suburbs. It provides a broad indicator of price trends in the Chicago condo market, which is an important segment of the local real estate landscape.
Methodology
The index is calculated based on data from recorded condominium sales transactions.
Historical Context
Trends in the Condo Price Index help inform housing and economic policies at the local and regional level.
Key Facts
- The index has a base year of 2000.
- Chicago condo prices rose over 200% from 2000 to 2006.
- Prices declined sharply during the 2008 financial crisis.
FAQs
Q: What does this economic trend measure?
A: The Condo Price Index for Chicago tracks the average sale prices of condominium units in the Chicago metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: The Chicago condo market is a key indicator of local real estate conditions, so this index is closely watched by real estate professionals, policymakers, and economists.
Q: How is this data collected or calculated?
A: The index is calculated based on recorded condominium sales transactions in the Chicago area.
Q: How is this trend used in economic policy?
A: Trends in the Condo Price Index help inform housing and economic policies at the local and regional level in Chicago and Illinois.
Q: Are there update delays or limitations?
A: There may be lags in data reporting due to the time required to process and aggregate sales transactions.
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Citation
U.S. Federal Reserve, Condo Price Index for Chicago, Illinois (CHXRCNSA), retrieved from FRED.