Good Evening!
Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, January 10th.
Active Listing Inventory was stable last week. Typically, inventory spikes a bit immediately after the first of the year, with the holidays being over. Data from the next few weeks will determine if this is a continuing trend, or just a blip on the radar screen.
Most of the other numbers are predictably down in the first business week of 2010. However, a climb in Pending Sales, and a drop in Average Market Time, is encouraging if the trend continues. Another surprise - Average Sales Price, in the Chicago North and Northwest Side Neighborhoods we serve extensively, rose nearly 6%! This rise counters recent trends - again, let's see if it is long or short term.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, is slightly inching up, but still far stronger than the one year or greater figure of early, 2009.
The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame remains over 57%, but fell slightly over the past week.
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 January 10th 3,350 40 43 29 w/e January 3rd 3,319 30 67 154 % CHANGE +0.9% +33.3% -35.8% -81.2% CLOSED PROPERTIES DATA AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME w/e January 10th $281,085 147 DAYS $12,085,795 w/e January 3rd $265,304 168 DAYS $17,775,368 % CHANGE +5.9% -12.5% -32.0% THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) - w/e January 10th - LAST 12 MOS - 10.94 LAST 6 MOS - 9.08 LAST 3 MOS - 9.80 w/e January 3rd - LAST 12 MOS - 10.86 LAST 6 MOS - 8.90 LAST 3 MOS - 9.51 PERCENT OF HOMES SELLING IN 180 DAYS - w/e January 10th - 57.09% (UNSOLD - 42.91%) w/e January 3rd - 57.36% (UNSOLD - 42.64%) 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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