The median price for a condo in the city of Chicago rose to $275,000 last month, which is up from $267,500 in March 2010. The 2.8 percent increase represents the first time there was a rise in prices in over two years. In the Chicago area, March single-family home and condo sales increased 41.3 percent compared to February and the sale of homes jumped 3.6 percent since February.

UPDATE (3:23 p.m.): In its report on the housing market, Crain's noted that home prices in the Chicago area fell compared with a year ago for the ninth straight month.