CHICAGO REAL ESTATE STATS PACK!
Good Morning, Everyone!
Here are some key Chicago Real Estate Stats to ponder, on this beautiful Monday Morning, May 7th -
SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE
ACTV LISTINGS JUST SOLD CLOSED EXPIRED
w/e May 6th 1,391 76 156 105
w/e April 29th 865 84 185 33
% CHANGE +61.8% -9.5% -15.7% +218.2%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e May 6th $354,570 133 DAYS $55,313,070
w/e April 29th $313,826 136 DAYS $58,057,919
CHANGE +13.0% -2.2% -4.7%
OBSERVATIONS
No alarm for increase in Expired Listings - most real estate listing agreements signed by brokers expire End of Month. We are encouraged by increase in Average Sale Prices - but, remember, this is only on week compared to the previous week, and many closings take place last week in each month. However, this, taken along with our personal, on-the-ground experience, indicates some pent-up Spring demand for residential property.
RATE CHECK
Average 30-Year Fixed Mortgage Rates for the w/e May 3rd were unchanged from the previous week - 6.16%. One year ago, the Average 30-Year Fixed Rate was 6.59%. It appears Interest Rates are not a factor in creating the current Buyer's Market - high levels of available inventory for sale is the biggest contributing factor, in our opinion. For further details, view our Real Estate Update newsletter, updated daily.
Please post, call, or send us an email if you'd like to further discuss current trends in the Chicago Real Estate Market, or customize our data to match your specific needs. We're always here for you!
Dean Moss
Fearless Leader, Dean's Team . . . serving CHICAGO, All Chicago Suburbs . . . and YOU!
