Same thing goes for us in the Chicagoland area. A 1200 square foot Chicago bungelow sells for $500,000.00 in good condition. Its absolutely nuts. My home in a far south suburb hase gone $120,000.00 in four years. The average home in my suburb being built is between $450,000.00 and $500,000.00 and it is by no means a ritzy area very middle to slightly upper middle class. I don't know who is buying these houses. Happy house hunting.
Sean K