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Chicago IL Market Statistics Update - September 14, 2009
Sorry for the tardiness this week, folks - but let's catch up!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, September 13, 2009.
Big Drop-offs in Closed Sales, Expired Listings, and Total Sales Volume this past week is no surprise!   After all, school is back in session, a new month has turned, and the weather around Chicago will soon start to chill. 
However, Active Listings continue stable, and Pending Sales actually held their own despite the four-day, short holiday week. 
Average Sales Price see-sawed back down this week - the long-term trend suggests that.  Within our Team, the average sales price of listings we sold has fallen has fallen by over 36% since the beginning of 2008, reflecting a broader trend in the Chicago Market we serve as a whole.  Average Market Time jumped a bit this past week, and is still high. 
The Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, actually jumped a slight bit in the North and Northwest Side of Chicago Neighborhoods we serve most frequently.  Perhaps due to the change in seasons?
The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame continues to inch closer to benchmark 40%.  We hope that stays on ... more

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