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Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, December 6th.
Moderating inventory of Active Listings, More attractive numbers of Pending Sales, More Listings Sold. Higher Average Sales Price and Sales Volume, and lower Average Market Time.
Are good times back for the housing market in the North and Northwest Side of Chicago Neighborhoods we serve frequently?
The likely answer - not quite yet! Last week's figures were skewed by the short Thanksgiving holiday week. However, these continued trends toward improvement might indicate some stability is returning. Let's monitor week by week.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, continues to improve. The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame fell slightly, but is still in excess of 52% - far better than just a couple of months ago!
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 December 7th 3,613 39 108 67
w/e November 30th 3,667 18 76 34
% CHANGE -1.5 % +117.7% +42.1% +97.1%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e December 7th $254,921 148 DAYS$27,531,468
w/e November 30th $225,559 161 DAYS $17,142,484
% CHANGE +13.0% -8.1% +60.1%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e December 7th -LAST 12 MOS - 12.85 LAST 6 MOS - 9.69 LAST 3 MOS - 9.27
w/e November 30th - LAST 12 MOS - 12.55 LAST 6 MOS - 9.68 LAST 3 MOS - 9.43
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e December 7th - 52.11% (UNSOLD - 47.89%)
w/e November 30th - 52.69% (UNSOLD - 47.31%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.