"You've Caught the NET!"

Good morning, Everyone!

Here's the latest Stat Summary on the Chicago Real Estate Market, based on data pulled yesterday evening, August 24, 2008 -

Active Listings have continued their steady run, while Pending Sales continue their mid-summer tumble in the North and Northwest Side Neighborhoods in Chicago we serve.

Closed Sales Volume, Units Sold, and Average Market Time showed improvement this past week.  Average Sales Price also improved somewhat.

Absorption Rate, or average inventory turnover, increased 1.6% this week as well, with current inventory in the areas we serve very at 28.5 months now.    Percentage of Sale Within Six Month (180 Days) shows another improvement 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 August 25th             5,259                  43                         84                 46

w/e August 18th             5,260                  55                         80                 58

% CHANGE                     +-0.0%              -21.8%                  +5.0%            -20.7%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e August 25th            $398,818               143 DAYS                      $33,441,925

w/e August 18th            $394,483               161 DAYS                      $31,558,708

% CHANGE                     +1.1%                      -11.2%                             +6.0%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e August 25th  - LAST 12 MOS - 19.74   LAST 6 MOS - 19.24     LAST 3 MOS - 28.50

w/e August 18th - LAST 12 MOS - 19.68     LAST 6 MOS - 19.19    LAST 3 MOS - 28.95

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e August 25th  - 26.64% (UNSOLD - 73.36%) 

w/e August 18th - 26.55% (UNSOLD - 73.45%)

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

Review our Chicago IL Real Estate Stats Pack Archive via our Team Blog Center - BlogChicagoHomes.com. 

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

DEAN & DEAN'S TEAM CHICAGO