ChitownLiving | Chicago Real Estate + Life

Received the following email question the other week:

Love your Chicago market stats but why does it take you so long to post them each month?

A few reasons.  First, I prefer to wait for closings to settle each month before generating stats.  Just like a large corporation reporting financials, there is a delay between the actual transaction (closing) and the posting of that transaction.  In other words, things that close at the end of the month often don’t post until midway into the following month.  Second, I’m busy.  My primary job is not generating market statistics, but assisting home buyers and sellers in their real estate transactions.  I am often in my car which makes calculating and posting statistics difficult.  Third, I’m just lazy.  Kidding about this one as who else in Chicago makes monthly market statistics available?  Answer is almost nobody. Statistics will be coming soon (maybe tomorrow).  In the meantime, check out the most recent available to under contract ratio of 1.99.  This is the lowest level since September 2006 when I started calculating the stat. On another note, the stats I publish are at a macro level (North Central/East Chicago).  If you have an interest in a particular neighborhood or community area let me know and I will be glad to assist in generating local market stats.