CHICAGO REAL ESTATE STATS PACK - MAY 14, 2007
Good Morning, Everyone!
Hope you had an enjoyable Mother's Day! Moms - we hope your kids treated you like Royalty!
Here are some key Chicago Real Estate Stats to ponder, as we begin the week!
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 13th 1,450 85 93 35
w/e May 6th 1,391 76 156 105
% CHANGE +4.2% +11.8% -40.4% -66.7%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e May 13th $322,163 129 DAYS $29.961,210
w/e May 6th $354,570 133 DAYS $55,313,070
CHANGE -9.1% -3.0% -45.8%
OBSERVATIONS
No alarm for volume decrease in Listings Closed, as most closings occur last week of each month. Volume typical for middle of month. Slightly concerned about Average Sales Price - indicates volatility in this market. Again, a month-to-month track, over a period of time, would provide better direction here. Last week, Average Sale Prices were way up! Again, pent-up demand seems to exist in this Spring market.
RATE CHECK
Average 30-Year Fixed Mortgage Rates for the w/e May 13th were down slightly from the previous week - 6.15%. One year ago, the Average 30-Year Fixed Rate was 6.58%. In the opinion of Freddie Mac Vice President and Chief Economist Frank Nothaft, lower-than-expected job growth during the months of February, March, and April has tempered inflation concerns, resulting in stable mortgage interest rates. 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!
