CHICAGO REAL ESTATE STATS PACK – MAY 14 2007
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 1450 85 93 35
w/e May 6th 1391 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 $322163 129 DAYS $29.961210
w/e May 6th $354570 133 DAYS $55313070
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!
