Chicago real estate market statistics for March are now available. I am swamped so can’t promise any detailed commentary. Some tidbits for you to chew on however…
- Despite the rising inventory, contracts seem to be rising in relation to available inventory. See the available to under contract ratio.
- Absorbtion rate is very high at 9.2 months but this is based on the last 6 month closings.  This would be lower if annualized.
- Median and average prices are holding steady.
- Sold days on market are very high at 145 days plus for condos.
Have a lot more to comment on but have to run.
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