Good Morning!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, October 18, 2009.
This past week, Sales Volume and Closed Properties showed improvement, although we are far from convinced the week-by-week see-saw for these numbers is coming to an end.
Active Listings continue to moderate, typical for this time of year in the North and Northwest Side of Chicago Neighborhoods we serve most frequently. Once again this week, however Average Sales Prices fell, and, encouragingly, so did Average Market Time.
Pending Sales gave back last week's gain, a curious see-saw this time of the year as well.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, continues to improve, as does the Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame. During the past week, 44.5% of all listed properties sell during this average marketing time frame - a considerable improvement over the same numbers earlier this year.
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 18th 3,888 53 72 27
w/e October 11th 3,925 62 58 37
% CHANGE -0.9% -14.5% +24.1% -27.0%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e October 18th $244,262 157 DAYS $17,586,864
w/e October 11th $252,672 185 DAYS $14,654,976
% CHANGE -3.3% -15.1% +19.9%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e October 18th - LAST 12 MOS - 14.20 LAST 6 MOS - 11.03 LAST 3 MOS - 10.20
w/e October 11th - LAST 12 MOS - 14.47 LAST 6 MOS - 11.28 LAST 3 MOS - 10.24
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e October 18th - 44.50% (UNSOLD - 55.50%)
w/e October 11th - 43.32% (UNSOLD - 56.68%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com.
Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!
DEAN & DEAN'S TEAM CHICAGO
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