Chicago IL Market Statistics Update - September 7, 2009

By
Real Estate Agent with Dean's Team - Keller Williams Realty Partners Chicago IL

Good Morning - and Happy Labor Day!

Here's our Chicago Market Stats Update, based on data compiled Sunday evening, September 6 2009.

Active Listings numbers continue their downward trend this week, while Pending Sales, as well as Closed Transactions, fell a bit.  The fall in Closings at the end of the month is unusual, but the gross closed numbers are not significantly high to indicate any long-term trend, in my opinion. 

Average Sales Price bounced back up a bit last week - let's see if it will continue.  Average Market Time still very high. 

The Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, continues downward in the North and Northwest Side of Chicago Neighborhoods we serve most frequently!  The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame continues to approach 40%.  Hitting that target would be a significant benchmark, one not seen here in over 18 months! 

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 6th         4,125                   67                  101                62

w/e August 30th              4,168                   71                  110                30

% CHANGE                      -1.0%                -5.6%                 -8.2%         +106.7%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e September 6th   $272,092            143 DAYS                   $27,481,292

w/e August 30th        $255,729            156 DAYS                    $28,130,190

% CHANGE                   +6.4%                 -8.3%                         -2.3%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e September 6th - LAST 12 MOS - 15.69   LAST 6 MOS - 12.93  LAST 3 MOS - 11.13

w/e August 30th  - LAST 12 MOS - 16.07  LAST 6 MOS - 13.72   LAST 3 MOS - 11.54

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e September 6th - 37.86% (UNSOLD - 62.14%) 

w/e August 30th- 35.90% (UNSOLD - 64.10%)

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. 

And . . .  enjoy your day off today!

DEAN & DEAN'S TEAM CHICAGO

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Illinois Cook County Chicago
Groups:
Diary of a Realtor
Floyd Wickman
Keller Williams 'Rainers
Realtors®
Windy City Real Estate
Tags:
chicago il market statistics update

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the key to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
641,941
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

You did a great job, I need to learn to put it together. Great posting.

September 07, 2009 10:22 AM #1
Show All Comments
Rainmaker
362,833

Dean Moss

Dean's Team Chicago IL Real Estate Team
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the truck to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information