Good Morning, AR!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, June 22, 2008 -
The mid-month Sales Pending and Transactions Closed statistics had a positive jump from last week, when both indicators showed declines.
Average Sales Price dropped slightly, as while total volume increased somewhat, reflecting the bounce back last week in Closed Sales. Average Market Time is still too high!
Absorption Rate, or average inventory turnover, surprisingly increased another 1.5% this past week - unexpected, given the jump in Pending Sales and Closed Sales. The theoretical level of home inventory in the City of Chicago areas we serve no stands at just nearly 29.2 months, on average.
Percentage of Sale Within Six Month (180 Days) held fairly stable once again this past week.
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 23rd 5,266 68 74 54
w/e June 16th 5,241 44 67 45
% CHANGE +0.5% +54.5% +10.4% +20.0%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e June 23rd $332,556 167 DAYS $24,609,185
w/e June 16th $347,625 169 DAYS $23,290,902
% CHANGE -4.3% -1.2% +5.7%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e June 23rd - LAST 12 MOS - 19.08 LAST 6 MOS - 22.64 LAST 3 MOS - 29.16
w/e June 16th - LAST 12 MOS - 18.84 LAST 6 MOS - 23.22 LAST 3 MOS - 28.74
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e June 23rd - 22.75% (UNSOLD - 77.25%)
w/e June 16th- 22.63% (UNSOLD - 77.37%)
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
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