ChitownLiving | Chicago Real Estate + Life

So you thought your condo association reserve fund was safe? Think again. Choose your real estate partners carefully from development to brokerage to property management.

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From Crain’s… Overall Market:  Local home sales down 19% in 2nd quarter Downtown Market:  Downtown new-home sales on pace for 4,000

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Chicago real estate stats for July are posted.  As mentioned in an earlier post, I have incorporated some new charts.  Click on a chart to request a more detailed report for a specific zip code.

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Statistics for a number of Chicago area zip codes appear below.  Check here to see how the zip codes relate to Chicago’s 77 Community areas.

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Chicago Single Family Homes

 

I am in the process of implementing real-time real estate market statistics to supplement my own home grown Chicago real estate market stats.  Some kinks to work out but check back as more neighborhoods and property types (condo/townhome) are rolled out.

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Chicago real estate stats for June are finally posted. For all the media talk of gloom and doom check out median and average prices. What’s up, and I mean up, with that?

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The Market Stats page is down. Why you ask? I have no idea, but can only imagine my host must have made a change as I haven’t. Will look into it in the coming week. Update… Fixed. Issue caused by person between chair and keyboard. How dare I point the finger.

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Chicago real estate stats for May are posted.

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Chicago real estate stats  for April are finally posted.  Better late than never.  Some quick comments:

Attached sales volumes are fairly flat at 1,648 in April 2006 vs. 1,674 in April 2007.  Median prices are up slightly from $301,600 to $312,500.
Detached sales volumes are down slightly at 180 in April 2006 vs. 166 in April 2007.  Median prices are up from [...]

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Dan Green of The Mortgage Reports pointed me to this video, from Speculative Bubble.  The video depicts US home prices adjusted for inflation plotted as a roller coaster ride.  Quite fun.  I lasted for the entire ride and didn’t even get sick. Unfortunately, the YouTube logo in the lower right hand corner of the video [...]

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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 [...]

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Positive real estate news today in the form of a little .7% increase in the Pending Home Sales Index (PHSI) from January to February, a better than expected number, a surprise according to some. In fact, the news contributed to a move in the stock market. To get some perspective, think [...]

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Chicago real estate market statistics for February are now available.  Commentary to follow.

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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 [...]

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Long day equals short post.  Early evidence suggests that Chicago Real estate inventory is starting to be absorbed.  Check out the most recent Available to Under Contract Ratio.

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Chicago real estate market statistics for January are now available.  Year over year data is now available which is fantastic as trends can now be viewed over the long term. Still a healthy amount of inventory out there, 10,775 units, about a 7.2 month supply.  January showed 4,138 new units coming onto the market as opposed to 3,957 in [...]

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Hello 2007!  I’ve been in hibernation for the past few weeks, taking some vacation, wrapping up 2006, and planning for 2007.  Hence the light posting. In any case, December market statistics for North Central and North East Chicago are available on the Market Stats section of the site.  Year end commentary will follow but I wanted to make these available.

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What Will Happen to Home Values in 2007?  This is the question Fortune’s CNNMoney.com asked of Moody’s Economy.com and Fiserv Lending Solutions.  The article, 10 best places to own real estate, weighs in on what lies ahead in 2007 for housing in the country’s 100 largest metropolitan areas.  Nationwide 63 of the 100 [...]

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November market statistics for North Central and North East Chicago are available on the Market Stats section of the site. Big yawn for market statistics.  Looking at the charts, both average sold price and median sold price have held fairly steady year to date.  The big story is transaction volume.  We had 21,175 closings through November ’05 [...]

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Both Sellsius and Northern Virginia Real Estate Guide pointed me to the latest National Association of Realtors (NAR) third quarter report on CNNMoney.com. Nationally, single family and condo median prices were down 1.2% and 2.1% respectively.  In Chicago however, single family median home prices were up 1.7% while condo prices were up 4.3%.  Slow but steady [...]

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