Wednesday, May 27, 2009

Median Price Down 15% From May '08 High

For April 2009, the median sales price of Chicago condos was down 15% from its all-time monthly high, recorded in May 2008.

That finding comes from statistics compiled using figures from Midwest Real Estate Data (MRED), the region's multiple listing service.

According to the MRED data, the median sales price of condos sold in April 2009 was $280,000, compared to $329,000 in May 2008. From January 2003, the earliest month for which we have figures, the median price in April 2009 was up 28%, from $218,500.

At its May 2008 peak, the median price was up 51% from our January 2003 starting point.

The monthly medians are tracked and shown in the graph and the chart below. This information will be updated each month and available in Market Overview on

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