Good Morning!
(ED. NOTE: We apologize for the delay in posting this week's Chicago IL Market Stats. I was knocked out of commission earlier this week with a bad cold! Normal Chicago Stats Posting Schedule - every Monday Morning - resumes next week!)
A few encouraging signs in the past week!
Units Sold, Sales Volume, Properties Under Contract, and Average Market Time all showed improvement over the past week! Expired Listings showed their usual middle-of-the-month dip.
First-Time Homebuyers are calling in increasing numbers on our listings - although a few are getting skittish over even the most minor inspection issues.
Active Listing Inventory remains stable in the North and Northwest Sides of Chicago Market Area we serve.
However, the escalation in the Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, remains troubling. Also, each week, a smaller percentage of homes sell within a normal six-month marketing time frame.
Here are archived annual Chicago Neighborhood Statistics, including Units Sold and Price Trends Data, for 1992 through 2007, courtesy of The Chicago Association of Realtors. Updated 2008 stats will be available before the end of the First Quarter, 2009.
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 March 15th 4,215 55 30 28 w/e March 8th 4,209 43 31 47 % CHANGE +0.1% +27.9% -3.2% -40.4% CLOSED PROPERTIES DATA AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME w/e March 15th $317,878 168 DAYS $9,536,340 w/e March 8th $284,632 200 DAYS $8,823,592 % CHANGE +11.7% -16.0% +8.1% THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) - w/e March 15th - LAST 12 MOS - 14.98 LAST 6 MOS - 21.02 LAST 3 MOS - 28.67 w/e March 8th - LAST 12 MOS - 14.84 LAST 6 MOS - 20.62 LAST 3 MOS - 28.12 PERCENT OF HOMES SELLING IN 180 DAYS - w/e March 15th - 30.22% (UNSOLD - 69.78%) w/e March 8th - 30.69% (UNSOLD - 69.31%) SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!
DEAN & DEAN'S TEAM CHICAGO
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