Good Morning!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, April 5, 2009.
The jump in Closed Units and Expired Listings is somewhat typical for the end of the month, and the end of the quarter. Indeed, many over-priced listings set to expire at the end of the First Quarter, 2009 have done so. Those properties priced correctly, it would seem, have sold.
Active Listings again stable. Sales Volume up SIGNIFICANTLY - but let's see if this trend continues in the coming weeks. Average Market Time still considerably high in the North and Northwest Side of Chicago Communities we serve most frequently.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, again improved. However, the downward trend in the percentage of homes sell within a normal six-month marketing time frame has continued.
Here are archived annual Chicago Neighborhood Statistics, including Units Sold and Price Trends Data, for 1992 through 2007, courtesy of The Chicago Association of Realtors. Updated 2008 stats will be available soon.
In addition, here is an Interactive Median Price Heat Map, from the Chicago Tribune Real Estate Section, covering Every Chicago Neighborhood. View the map for links to maps for Chicago Suburbs. It is updated as new data becomes available.
Communities and clients we serve, reside, or plan to reside, in the Chicago Neighborhoods of The Chicago Loop, The Gold Coast, River North, Lincoln Park, Lakeview, Uptown, Edgewater, North Center, Lincoln Square, Albany Park, Ravenswood, Wicker Park, and Bucktown.
Also, these Great Chicago Neighborhoods: Logan Square, Rogers Park , West Ridge, Portage Park, Jefferson Park, Norwood Park, Sauganash, Edgebrook,and Edison Park. Plus All Chicago Suburbs.
SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE
ACTV LISTINGS JUST SOLD CLOSED EXPIRED
w/e April 5th 4,279 50 70 84
w/e March 29th 4,287 50 46 36
% CHANGE -0.2% +-0.0% +52.2% +133.3%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e April 5th $288,545 207 DAYS $20,198,150
w/e March 29th $301,244 186 DAYS $13,857,224
% CHANGE -4.2% +11.3% +45.8%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e April 5th - LAST 12 MOS - 15.78 LAST 6 MOS - 22.15 LAST 3 MOS - 25.22
w/e March 29th - LAST 12 MOS - 15.65 LAST 6 MOS - 21.98 LAST 3 MOS - 26.79
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e April 5th - 28.04% (UNSOLD - 71.96%)
w/e March 29th - 28.73% (UNSOLD - 71.27%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!
Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com.
DEAN & DEAN'S TEAM CHICAGO
Comments(0)