Chicago IL Market Statistics Update - September 14, 2009

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

Sorry for the tardiness this week, folks - but let's catch up!

Here's our Chicago Market Stats Update, based on data compiled Sunday evening, September 13, 2009.

Big Drop-offs in Closed Sales, Expired Listings, and Total Sales Volume this past week is no surprise!   After all, school is back in session, a new month has turned, and the weather around Chicago will soon start to chill. 

However, Active Listings continue stable, and Pending Sales actually held their own despite the four-day, short holiday week. 

Average Sales Price see-sawed back down this week - the long-term trend suggests that.  Within our Team, the average sales price of listings we sold has fallen has fallen by over 36% since the beginning of 2008, reflecting a broader trend in the Chicago Market we serve as a whole.  Average Market Time jumped a bit this past week, and is still high. 

The Absorption Rate - the theoretical time to clear existing homes-for-sale inventory, actually jumped a slight bit in the North and Northwest Side of Chicago Neighborhoods we serve most frequently.  Perhaps due to the change in seasons?

The Percentage of Homes Selling in an Estimated Six-Month Marketing Time Frame continues to inch closer to benchmark 40%.  We hope that stays on track!

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 13th         4,102                   65                   54                 44

w/e September 6th           4,125                   67                  101                62

% CHANGE                      -0.6%                   -3.0%               -46.5%          -29.0%

CLOSED PROPERTIES DATA

                              AVG SALE PRICE     AVG DAYS ON MKT     TOTAL VOLUME   

w/e September 13th    $253,309            156 DAYS                    $13,678,686

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

% CHANGE                   -6.9%                   +9.1%                         -50.2%

THEORETICAL TIME TO CLEAR EXISTING INVENTORY (ABSORPTION RATE) -

w/e September 13th - LAST 12 MOS - 15.58   LAST 6 MOS - 12.75  LAST 3 MOS - 11.21

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

PERCENT OF HOMES SELLING IN 180 DAYS - 

w/e September 13th - 38.45% (UNSOLD - 61.55%) 

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

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. 

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:
Windy City Real Estate
Realtors®
Keller Williams 'Rainers
Floyd Wickman
Diary of a Realtor
Tags:
chicago il market statistics update

Spam prevention
Rainmaker
362,983

Dean Moss

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

Additional Information