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Chicago IL Market Statistics Update - November 16, 2009

Good Evening!

Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, November 15th. 

This past week has seen continuing stability in the Housing Market in the North and Northwest Side of Chicago Neighborhoods we serve with great frequency.  Active Listings Inventor showed little change.  Pending Sales - about the same versus last week. 

Average Sales Price is up, however, as is, unfortunately, Average Market TimeSales Volume rebounded a bit over last week.   Units Sold and Listings Expired - generally, steady! 

Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, ticked up a very slight amount- it remains just over 9.6 months. 

The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame jumped to over 51% this past week.  Earlier this year, that percentage was just over 30%!   It's been a long time since the number of homes selling during an Estimated Six-Month Market Time eclipsed 50% here in Chicago!

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 November 15th        3,776                   42                    82                35

w/e November 8th          3,794                   47                    99                31

% CHANGE                       -0.4                  -1.1%                -8.9%           +12.9%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e November 15th     $282,077            172 DAYS                    $27,296,816

w/e November 8th       $254,536            142 DAYS                    $25,199,064

% CHANGE                     +10.8%                 +21.1%                          +8.3%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e November 15th - LAST 12 MOS - 13.38   LAST 6 MOS - 10.21  LAST 3 MOS - 9.62

w/e November 8th   - LAST 12 MOS - 13.13  LAST 6 MOS -  9.91    LAST 3 MOS - 9.58

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e November 15th - 51.09% (UNSOLD - 48.91%) 

w/e November 8th  - 49.10% (UNSOLD - 50.90%)

SOURCE: MIDWEST REAL ESTATE DATA LLC, AREA MARKET SURVEY DATA

Review our Chicago IL Real Estate Stats Pack Archive via BlogChicagoHomes.com. 

Call our Team anytime for current trends in any Chicago Neighborhood or Chicago Suburb!

DEAN & DEAN'S TEAM CHICAGO

Comment balloon 2 commentsDean Moss • November 21 2009 08:08PM

Comments

Looks like there are some promising signs in the Chicago market area.  I hope this good news continues.

Posted by Joan Whitebook, Consumer Focused Real Estate Services (BHG The Masiello Group) almost 9 years ago

Dean, this is a very comprehensive Market Statistics Update on Chicago IL. Especially interesting is the % of homes that have sold in the lst 180 days.

Posted by Sharon Alters, Realtor - Homes for Sale Fleming Island FL (Coldwell Banker Vanguard Realty - 904-673-2308) almost 9 years ago

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