Here is the market update for the Chicago area.  Note that this is neither neighborhood or sub-neighborhood specific, nor does it encompase all properties.  Please consult a local real estate professional for a more accurate analysis.

In comparison value to date from 2007 we have a drop of 8.5% for Single Family Homes, Condos, no change, and in Multi-Family dwellings a decrease of 13%.

Here we have a decrease in value of Single Family Homes by 12.5%, Condos increased in value 17% and Multi-Family dropped by approximately 15%.

Partial data is courtesy of the Chicago Association of Realtors.

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.

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

 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.