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Chicagoland Residential Real Estate Market Update 2013 Wrap up

By John Ziemba

Real Estate Agent with Keller Williams Team Realty

January 20, 2014 10:38 AM

The Chicagoland Market turned around in 2013. Here are the numbers for the year. Here are the key stats to know.

For the entire MLS area Median home price increased 9.7% to 170,000

Average Final Listing Price to Close Price is 97%

There is currently 5 Months of Inventory

Over 39% of closed sales are distressed properties (bank owned or short sales)

Short Sales are 22% of Active Listings but only 11.28% in Closed Sales

Total Number of Homes Sold in the MLS was 117,891 in 2013

Below are more additional stats please do not hesitate to contact me if you have any questions. Data provided my MRED, LLC

Sales Price
Area	Median	YoY Change	Average	YoY Change
Whole MLS	$170,000	9.70%	238719	8.40%
Cook	$176,000	13.20%	256762	9.00%
DuPage	$218,000	8.50%	284307	8.40%
Kane	$164,000	14.70%	196449	11.50%
McHenry	$152,500	8.80%	173094	5.90%
Lake	$189,000	11.20%	273702	6.90%
Will	$171,000	8.90%	202708	7.00%
Kendall	$166,000	7.10%	176840	8.80%

	Original List to Close	Final List To Close
Area	Average	Median	Average	Median
Whole MLS	93.2%	94.9%	97.0%	96.8%
Cook	93.8%	95.4%	97.5%	97.1%
DuPage	93.2%	94.6%	96.4%	96.3%
Kane	94.6%	95.1%	98.2%	97.2%
McHenry	97.1%	93.8%	96.5%	96.6%
Lake	92.6%	94.4%	96.6%	96.4%
Will	93.7%	95.1%	96.8%	96.9%
Kendall	95.5%	95.8%	98.2%	97.7%

	Median Final List to Closed Price
Area	Traditional	REO	Short Sale	All
Whole MLS	96.3%	98.8%	99.0%	96.80%
Cook	96.6%	100.0%	99.4%	97.10%
DuPage	95.9%	98.1%	98.5%	96.30%
Kane	96.3%	100.0%	100.0%	97.20%
McHenry	95.9%	97.7%	97.9%	96.90%
Lake	95.9%	98.5%	97.9%	96.40%
Will	96.4%	98.2%	99.4%	96.90%
Kendall	96.9%	99.4%	100.0%	97.70%

	Average Days Contract to Close	Average Days Listing To Contract
Area	Traditional	REO	Short Sale	All	Traditional	REO	Short Sale	All
Whole MLS	49	45	124	57	65	57	129	70
Cook	50	47	127	58	56	58	120	64
DuPage	49	46	123	55	62	57	133	68
Kane	48	44	123	57	71	49	135	73
McHenry	50	43	135	60	83	56	144	83
Lake	51	43	122	56	68	53	144	72
Will	48	47	125	58	68	59	138	75
Kendall	52	46	122	63	64	49	128	71


	Months Supply of Inventory
Area
Whole MLS	5
Cook	4.6
DuPage	4.5
Kane	4.7
McHenry	5.7
Lake	5.2
Will	5.4
Kendall	4.2

	Number Closed Sales	% of Closed Sales
Area	Traditional	REO	Short Sale	All	Traditional	REO	Short Sale
Whole MLS	71,671	33,009	13,296	117,891	60.79%	28.00%	11.28%
Cook	38,698	16,549	6,816	61,971	62.45%	26.70%	11.00%
DuPage	9,076	2,937	1,297	13,295	68.27%	22.09%	9.76%
Kane	4,032	2,498	1,092	7,611	52.98%	32.82%	14.35%
McHenry	2,374	1,770	801	4,930	48.15%	35.90%	16.25%
Lake	6,256	3,301	1,173	10,712	58.40%	30.82%	10.95%
Will	5,400	2,259	1,163	8,809	61.30%	25.64%	13.20%
Kendall	1,007	805	423	2,229	45.18%	36.11%	18.98%

	Number of Homes for Sale	% of Homes for Sale
Area	Traditional	REO	Short Sale	All	Traditional	REO	Short Sale
Whole MLS	30,249	6,476	10,358	47,020	64.33%	13.77%	22.03%
Cook	13,604	3,321	5,602	22,487	60.50%	14.77%	24.91%
DuPage	3,276	578	884	4,732	69.23%	12.21%	18.68%
Kane	1,743	421	714	2,878	60.56%	14.63%	24.81%
McHenry	1,382	314	522	2,215	62.39%	14.18%	23.57%
Lake	2,802	590	957	4,345	64.49%	13.58%	22.03%
Will	2,405	456	933	3,791	63.44%	12.03%	24.61%
Kendall	427	133	219	767	55.67%	17.34%	28.55%

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Florida Tolbert Team Keller Williams Advantage

Keller Williams Advantage III Realty in Lake Nona - Orlando, FL

Keller Williams Land Luxury Division Specialist

Really great to hear from you again and just in time to let us all hear more great news on the road to recovery. Excellent report.

Jan 20, 2014 11:36 AM

Chicagoland Residential Real Estate Market Update 2013 Wrap up

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John Ziemba

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