ChitownLiving | Chicago Real Estate + Life

For more definition of the data and charts, refer to my first statistics post, Aug 2006 Market Trends.  Apologies as some of the data is a bit limited right now, but should improve as more readings are taken over time.  In addition, charts will be tweaked as I get a better feel for which stats add insight. Available Inventory:  The chart below shows all available listings on the last day of each of the prior two months.  Available listings remained fairly flat with 12,328 at the end of September and 12,290 at the end of October. Sold vs. New Inventory:  The chart below illustrates sold vs. new inventory in the prior two months.  While closings remained fairly flat, new listings taken dropped 8% most likely due to the seasonal slowdown. Available to Under Contract Ratio:  The chart below shows the relationship between available vs. under contract listings over time.  The chart is a good way to get a feel for the overall health of the marketplace.  If the trend breaks higher, then the market could be heading for trouble as the available listings would be overwhelming listings under contract.  If it breaks to the downside, it means the under contract listings are outpacing the available listings, a healthy pick-up in the market place.  The ratio currently sits at just over 2.6 available listings for each listing under contract.     Available vs. Under Contract Inventory:  The chart below is a simple representation of available vs. listings under contract over time.  At the last reading there were 4,383 listings under contract (4,052 condo/townhouse and 331 single family).      Sold Inventory:  The chart below is a simple representation of sold listings weekly over time.  At the last reading there were 412 (364 condo/townhouse and 48 single family) closings from 10/28 to 11/3. Other Fun Stats - The tables below display some common market statistics at a glance. Prior Month Market Trends September 2006 August 2006 Note:  Statistics are subject to error.  Crunch your own numbers, draw your own conclusions.