ChitownLiving | Chicago Real Estate + Life

While I wait for the “final bell” to be rung on the submission of closing data  in order to publish my October Northeast Chicago market statistics, I ran across a cool site courtesy of UrbanDigs. HousingTracker provides real estate maket statistics for major metropolitan areas.  The data is pulled from Realtor.com so it only covers active listings.  Check out the data for the Chicagoland area defined as follows.

The Chicago-Naperville-Joliet Metropolitan Division of the Chicago-Naperville-Joliet Metropolitan Statistical Area approximation has 76,678 total listings of which 62,735 are either Single Family or Condo (browse Chicago listings). The area includes the major cities of Aurora, Carol Stream, Chicago, Des Plaines, Evanston, Joliet, McHenry, Naperville, Palatine, Schaumburg and many others.

While the average of monthly median asking prices remains fairly flat… Inventory levels continue to rise…   According to the site, over the past six months, inventory has increased 15.6%, while median asking prices have only decreased 2.9%.  Inventory levels have risen, while median asking prices have remained fairly steady.  Do we have a stalemate between buyers and sellers here?  Do buyers and sellers need to take out the big oversized boxing gloves and duke it out?  Or, do buyers just continue to stay out of the ring and watch as sellers beat themselves up with incentives and price reductions? Head on over to HousingTracker for the full scoop.