Good Morning!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, October 11, 2009.
Sales Volume, Closed Properties, and Expired Listings essentially washed last week's big gains - typical for mid month. Longer-term, each statistic continues to moderate, indicate a slight pick up in sales activity in the North and Northwest Side of Chicago Neighborhoods we serve most frequently.
However, during the same longer time frame, Average Sales Prices continue to fall, and Average Market Time remains high.
Active Listing Inventory continues to draw down a bit, perhaps because many of the lower-priced properties being sold at distressed properties are starting to move - often to real estate investors. Pending Sales showed some improvement this past week, encouraging given the time of year.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, slowly continues to improve.
Again, this week, the Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame moved upward - by over one full percentage point! Last week, over 43% of all listed properties sell during this average marketing time frame..
Here are archived annual Chicago Neighborhood Statistics, including Units Sold and Price Trends Data, for 1995 through 2008 courtesy of The Chicago Association of Realtors.
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 October 11th 3,925 62 58 37 w/e October 4th 3,989 58 140 91 % CHANGE -1.6% +6.9% -58.6% -59.3% CLOSED PROPERTIES DATA AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME w/e October 11th $252,672 185 DAYS $14,654,976 w/e October 4th $263,638 142 DAYS $36,909,320 % CHANGE -4.2% +30.3% -60.3% THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) - w/e October 11th - LAST 12 MOS - 14.47 LAST 6 MOS - 11.28 LAST 3 MOS - 10.24 w/e October 4th - LAST 12 MOS - 14.75 LAST 6 MOS - 11.58 LAST 3 MOS - 10.29 PERCENT OF HOMES SELLING IN 180 DAYS - w/e October 11th - 43.32% (UNSOLD - 56.68%) w/e October 4th - 42.28% (UNSOLD - 57.72%) SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com.
DEAN & DEAN'S TEAM CHICAGO
Thanks for the data :) Very helpful to see what's going on in our market right now.
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