CHICAGO REAL ESTATE STATS PACK - JULY 2, 2007
Good Morning, Everyone!
Isn't it hard to believe 2007 is one-half over? Wow, time flies - when you're getting older!
Here's our Chicago Real Estate Stats Pack for Monday Morning, July 2nd, 2007.
SINGLE FAMILY, CONDOS, AND SMALL MULTI-UNIT PROPERTIES - NORTH SIDE OF CHICAGO, NORTH OF ADDISON STREET, WEST OF ASHLAND AVENUE
NEW LISTINGS JUST SOLD CLOSED EXPIRED
w/e July 2nd 1,409 88 150 129
w/e June 24th 1,433 71 125 92
% CHANGE -1.7% +23.9% +20.0% +40.2%
CLOSED PROPERTIES DATA
AVG SALE PRICE AVG DAYS ON MKT TOTAL VOLUME
w/e July 2nd $357,916 131 DAYS $53,687,433
w/e June 24th $360,317 135 DAYS $45,039,695
CHANGE -0.7% -3.0% +19.2%
SOURCE: MLSNI, AREA MARKET SURVEY DATA
OBSERVATIONS
New Listings and Market Time show continued stability. Very glad Market Time is continuing to trend downward a bit - serious homesellers now know that right pricing is very important, and fewer are "testing the waters" at an unrealistic price. Expired Listing increase normal for the end of the month. I am very encouraged that Average Sales Price remain virtually unchanged from last week. Total Volume is good - many close their residential properties the last couple of days of each month, and June 30th actually ended the Second Quarter.
RATE AND MARKET CHECK
Mortgage rates fell for the second consecutive week! For the week ending June 28th, average 30-year fixed rate mortgages stood at 6.67% nationally, down from 6.69% last week. Rates stood at 6.78% for thirty-year fixed rate loans this time in 2006 Frank Nothaft, Vice President and Chief Economist for Freddie Mac, says the downturn in the nations housing market continues.
"May's existing home sales (including condominiums and co-ops) fell 0.3 percent to the slowest pace since June 2003, and the number of months houses were available for sale rose to 8.9, the longest since June, 1992," says Nothaft.
For daily news and trends, view our Real Estate Update newsletter.. Also, visit our National Real Estate News link, via our Webcenter - dean-team.com.
Enjoy your Fourth of July Holiday - safely! Would you like custom market statistics for YOUR NEIGHBORHOOD, YOUR STREET, even YOUR BLOCK? Just let us know!
DEAN MOSS
Fearless Leader, Dean's Team . . . serving CHICAGO, All Chicago Suburbs . . . and YOU!
