Good Morning, Everyone!
Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, April 20, 2008 -
Rebounds in Sold Units, Sales Volume, and a nealy 22% drop in Average Market Time might be a good omen for the Spring market here in Chicago. This was the first truly warm week of the Spring, and interest in our listings seems to have increased this week. Active Listing Inventory increased slightly, and Units Pending Sale were stable.
Absorption Rate went down a slight bit this week, to a theoretical market time/inventory of 28.35 months. Just six weeks ago, the area Absorption Rate approached 42 months. Percentage of Sale Within Six Month (180 Days) again dropped slightly week-to-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 April 21st 4,894 63 75 50
w/e April 14th 4,840 64 32 37
% CHANGE +1.1% -1.6% +134.4% +35.1%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e April 21st $301,615 157 DAYS $22,621,171
w/e April 14th $274,847 201 DAYS $8,795,111
% CHANGE +9.7% -21.9% +157.2%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e April 21st - LAST 12 MOS - 16.07 LAST 6 MOS - 25.27 LAST 3 MOS - 28.35
w/e April 14th - LAST 12 MOS - 15.65 LAST 6 MOS - 25.05 LAST 3 MOS - 28.96
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e April 21st - 21.23% (UNSOLD - 78.77%)
w/e April 14th - 22.09% (UNSOLD - 77.91%)
SOURCE: MLSNI AREA MARKET SURVEY DATA
Please visit and review our Chicago IL Real Estate Stats Pack Archive via our Team Blog Center - BlogChicagoHomes.com.
Have any questions on any Chicago Neighborhood or nearby Chicago Suburb? Call or write and let us know!
DEAN & DEAN'S TEAM CHICAGO