Tuesday, October 13, 2009

YTD sales improve for the 5th consecutive month

A fantatic source for sales figures in the Chicago condo market, chicagocondosonline.com uses reional multiple listing service data and compiles statistic to help you better understand the market as a whole. The primary data summary is below along with links for more details and prior reports. The data is quite mixed but one quite positive trend is the decrease in the reduction of sales to the prior month.

Year-to-date sales of Chicago condos for the first nine months of 2009 are

* Down 44% in total dollar volume, to $2.2 billion
* Down 33% in units closed, to 7,073
* Down 13% in median sales price, to $276,000
* Up 16% in average market time, to 151 days.

This shows an improving year-to-date market in both dollars and units for five consecutive months:

End of April: Dollars down 59%, units down 51%
End of May: Dollars down 57%, units down 48%
End of June: Dollars down 53%, units down 44%
End of July: Dollars down 49%, units down 39%
End of August: Dollars down 47%, units down 36%
End of September: Dollars down 44%, units down 33%

Comparing September sales to August:

* Units closed were down 6%, from 1,030 to 973 closings
* Dollar volume was down 10%, from $317 million to $285 million
* Median sales price was up 1%, from $263,900 to $266,500
* Average market time was down 1%, from 149 days to 148 days

For details on month-over-month and year-over-year: click here.

For the full story: click here.

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