Good Morning!
Here's our Chicago Market Stats Update, based on data compiled Sunday evening, September 20, 2009.
The See-Saw Action in Closed Sales, Total Sales Volume, and Average Sales Price continues! The only trends that seem to continue - stability on Active Listings, an Average Sales Price above $250M, and near-six-month Average Market Times.
Pending Sales are not robust, but encouragingly high - greater than 50 each week, on average, in the North and Northwest Side of Chicago Neighborhoods our Team serves frequently. Sales Volume bounced back after a decline last week. Likely, volume will drop each week as the Chicago weather turns cold, and Autumn turns into Winter - sooner than we would all like.
The Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, edged up slightly once again - not a major worry here.
The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame is very close to 40% - a significant benchmark. Earlier this year, that number was in the upper 20's, and very weak!
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 September 20th 4,125 56 88 32 w/e September 13th 4,102 65 54 44 % CHANGE +0.6% -13.8% +63.0% -27.3% CLOSED PROPERTIES DATA AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME w/e September 20th $289,980 178 DAYS $25,518,240 w/e September 13th $253,309 156 DAYS $13,678,686 % CHANGE +14.5% +14.1% +86.6% THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) - w/e September 20th - LAST 12 MOS - 15.59 LAST 6 MOS - 12.54 LAST 3 MOS - 11.29 w/e September 13th - LAST 12 MOS - 15.58 LAST 6 MOS - 12.75 LAST 3 MOS - 11.21 PERCENT OF HOMES SELLING IN 180 DAYS - w/e September 20th - 39.27% (UNSOLD - 60.73%) w/e September 13th- 38.45% (UNSOLD - 61.55%) 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
