Chicago IL Market Statistics Update - December 7, 2009

Good Morning!

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!

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 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

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