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Chicago IL Market Statistics Update - April 28, 2008

Happy New Week, Everyone!

Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, April 27, 2008 -

Active Listing Inventory continues to grow, slowly, while Units Pending Sale ("Just Sold") jumped last week.  Sold Units and Sales Volume were flat last week, and  Average Market Time gave up about half of its 22% gain from last week. 

Absorption Rate was roughly flat this week - with an average inventory turnover in the North and Northwest Side Chicago Areas we serve remaining just below 28.5 months.   Percentage of Sale Within Six Month (180 Days) also flat this week.

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 28th             4,986                  73                      75                  36

w/e April 21st             4,894                   63                      75                 50

% CHANGE                  +1.9%             +15.9%           +-0.0%         -28.0%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e April 28th           $304,561                 175 DAYS                  $22,842,132

w/e April 21st            $301,615                 157 DAYS                  $22,621,171

% CHANGE                 +1.8%                     +11.5%                         +1.8%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e April 28th - LAST 12 MOS - 16.58    LAST 6 MOS - 25.52     LAST 3 MOS -  28.42

w/e April 21st - LAST 12 MOS - 16.07      LAST 6 MOS - 25.27     LAST 3 MOS - 28.35

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e April 28th - 21.13% (UNSOLD - 78.87%) 

w/e April 21st - 21.23% (UNSOLD - 78.77%)

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

Please visit and review our Chicago IL Real Estate Stats Pack Archive via our Team Blog Center - BlogChicagoHomes.com. 

Have any questions on any Chicago Neighborhood or Chicago Suburb?  Call or write and let us know!

DEAN & DEAN'S TEAM CHICAGO

Comment balloon 1 commentDean Moss • April 28 2008 08:13AM

Comments

Thanks for sharing you statistics!  Great agents understand the markets they are in.
Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) over 10 years ago

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