September home sales in Chicago were up over Sept ’08. The 57 home sales were similar to’07 and ’06 units closed (55 and 59), but down 35% vs the record 2005 figure (87).
Home prices, on the other hand, are right in line with sales prices over the last 5 years – up 1.9 % vs Sept 2008 and only down 4.2 % vs the hot 2005 sales season.
Inventory levels are also declining — while over the 6 month water mark, the 11.3 month supply of active homes for sale is lower than we’ve seen in some time.
Could the buyers’ market be waning? With low rates and attractive financing options, buyers had best jump in before it’s too late!
For information on homes for sale in Chicago, contact Anne Rossley at Prudential Rubloff.
These sales figures are taken from MRED – from the Gold Coast, Lincoln Park, Lakeview, Uptown, Lincoln Square, North Center, and Edgewater neighborhoods. For information on your neighborhood, call Anne Rossley today!