Chicago Market Update

Posted at 8:14 AM, Jan. 23, 2008

Well we may be starting off a bit slower than in the past, but the forecast is looking promising for many experts. 

Here is this week's data supplied from the Chicago Association of Realtors of how many homes have entered the market the period of January 10th through the 16th in 2008 in relationship to previous years.

		2008			2007			2006
	UNITS	MEDIAN		UNITS	MEDIAN		UNITS	MEDIAN
Single Family	594	$244,900		611	$289,900		492	$284,900
Attached Homes	958	$290,00		1080	$299,900		937	$299,900
Multi-Family	368	$310,000		332	$365,000		295	$339,900

 Here are the homes that have left the market during this period.

		2008			2007			2006
	UNITS	MEDIAN		UNITS	MEDIAN		UNITS	MEDIAN
Single Family	72	$192,500		94	$240,875		129	$220,000
Attached Homes	179	$316,555		242	$305,000		236	$280,000
Multi-Family	23	$369,900		59	$350,000		83	$310,000

 This indicates that we have on average an 8 month supply of homes.  Note that this information reflects the area as a whole and is not representational of the individual neighborhoods and subneighborhoods of Chicago.