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Chicago IL Market Statistics Update - November 23, 2009

Good Morning!

Here's our update on Chicago IL Real Estate Market Statistics, based on data compiled and reviewed Sunday Evening, November 22nd 

Stability seems to be the key in most indicator numbers this week.  In the North and Northwest Side of Chicago Neighborhoods we frequently serve,  Active Listings Inventory showed little change.  Pending Sales fell - predictable as the Thanksgiving Holiday approaches. 

Average Sales Price and Average Market Time held about steady, while Sales Volume gave back last week's gain, and a little bit more.   Units Sold figures were flat, while and Listings Expired jumped - perhaps, by design, as the holidays approach. 

Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, continued its declining trend.  It is now just short of 9.3 months - a very, very encouraging trend. 

The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame increased once again last week - it is now over 52%!

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        3,725                   35                    84                53

w/e November 22nd        3,776                   42                    82                35

% CHANGE                       -1.4                  -16.7%              +2.4%           +51.4%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e November 15th      $281,735            172 DAYS                    $23,665,740

w/e November 22nd      $282,077            172 DAYS                    $27,296,816

% CHANGE                      -0.1%                 +-0.0%                          -13.3%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e November 15th - LAST 12 MOS - 12.85   LAST 6 MOS - 9.69  LAST 3 MOS - 9.27

w/e November 22nd   - LAST 12 MOS - 13.38  LAST 6 MOS -  10.21    LAST 3 MOS - 9.62

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e November 15th - 52.11% (UNSOLD - 47.89%) 

w/e November 22nd  - 51.09% (UNSOLD - 48.91%

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 0 commentsDean Moss • November 23 2009 07:31AM

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