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Chicago IL Market Statistics Update - May 25, 2009

Good Morning!  Please enjoy the Memorial Day Holiday today - with reverence!

Here's our Chicago Market Stats Update, based on data compiled Sunday evening, May 24, 2009.

Very encouraging numbers all around this week, as the Chicago IL Real Estate Market is attempting to rebound, it seems - albeit at far lower prices than during the Real Estate Boom of just a few years ago.

Active Listings Inventory continues stable, while figures for Pending Sales, Sold Listings, Sold Volume, and Average Sales Price have all pointed upward.

Average Market Time and Expired Listings figures have dropped in encouraging fashion.  Time will tell if this is a trend or simply a weekly blip.   

Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, improved once again this past week, but is still high, at nearly 19 months in the North and Northwest Side of Chicago Neighborhoods we serve most frequently.  The percentage of homes sell within a normal six-month marketing time frame continues to be low

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 May 24th                    4,297                   71                      60              24

w/e May 17th                    4,298                   60                      45              37

   % CHANGE                   +-0.0%              +18.3%               +33.3%         -35.1%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e May 24th                  $300,158            162 DAYS                    $18,009,480

w/e May 17th                  $274,221            184 DAYS                    $11,079,450

   % CHANGE                        +9.5%               -12.0%                         +62.5%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e May 24th - LAST 12 MOS - 16.31    LAST 6 MOS - 22.04     LAST 3 MOS - 18.82

w/e May 17th - LAST 12 MOS - 16.21   LAST 6 MOS - 22.14    LAST 3 MOS - 19.78

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e May 24th - 26.49% (UNSOLD - 73.51%) 

w/e May 17th - 26.61% (UNSOLD - 73.39%)

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

Comment balloon 0 commentsDean Moss • May 25 2009 12:29AM

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