Good Morning!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, April 26, 2009.
Continued stability with the Active Listings figure. However, Sales Volume, in step with the Average Sales Price showed yet another drop this past week.
Average Market Time fell below 200 days, but continues high in the North and Northwest Side of Chicago Communities we serve most frequently. Pending Sales increased, while Listings Sold and Expired Listings fell, typical for mid-month readings.
Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, again improved, while the downward trend in the percentage of homes sell within a normal six-month marketing time frame continues.
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 April 26th 4,315 55 44 31
w/e April 19th 4,276 49 52 54
% CHANGE +0.9% +12.2% -15.4% -42.6%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e April 26th $245,721 190 DAYS $10,811,724
w/e April 19th $264,512 241 DAYS $13,754,624
% CHANGE -7.1% -21.2% -21.4%
THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -
w/e April 26th - LAST 12 MOS - 16.07 LAST 6 MOS - 22.81 LAST 3 MOS - 22.91
w/e April 19th - LAST 12 MOS - 15.83 LAST 6 MOS - 22.21 LAST 3 MOS - 23.63
PERCENT OF HOMES SELLING IN 180 DAYS -
w/e April 26th - 26.78% (UNSOLD - 73.22%)
w/e April 19th - 27.81% (UNSOLD - 72.19%)
SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA
Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!
Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com.
DEAN & DEAN'S TEAM CHICAGO
It's good to hear that the absorption rate in your market is decreasing. The absorption rate in my markets are remaining the same.
Hi Dean: Thanks for the market update. I worry about that Chicago are with the fallout from the auto companies!
:)