Good Morning, AR!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 29, 2008 -
While Active Listings and Sales Pending remained fairly stable within the past week, we are encouraged by considerable improvements in Average Market Time, Transactions Closed, and Closed Volume - these figures based on properties that went under contract several weeks ago, and are just now closing.
The dip in Average Sales Price might indicate many successful sellers are beginning to realize pricing correctly is the best predictor of a timely sale.
Absorption Rate, or average inventory turnover, fell 2.7% this past week - a positive move! The theoretical level of home inventory in the City of Chicago areas we serve no stands at just nearly 28.4 months, on average.
Percentage of Sale Within Six Month (180 Days) showed improvement this week as well.
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 June 30th 5,270 70 111 53
w/e June 23rd 5,266 68 74 54
% CHANGE +0.1% +2.9% +50.0% -1.9%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e June 30th $307,205 125 DAYS $34,099,812
w/e June 23rd $332,566 167 DAYS $24,609,185
% CHANGE -7.6% -25.1% +38.6%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e June 30th - LAST 12 MOS - 19.16 LAST 6 MOS - 21.70 LAST 3 MOS - 28.36
w/e June 23rd - LAST 12 MOS - 19.08 LAST 6 MOS - 22.64 LAST 3 MOS - 29.16
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e June 30th - 23.30% (UNSOLD - 76.70%)
w/e June 23rd - 22.75% (UNSOLD - 77.25%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Please visit and review our Chicago IL Real Estate Stats Pack Archive via our Team Blog Center - BlogChicagoHomes.com.
Call us anytime for current trends in any Chicago Neighborhood or Chicago Suburb!
DEAN & DEAN'S TEAM CHICAGO