MRED: Dollars Down 59%, Units Drop 51%

According to figures released today by MRED, the regional MLS, year-to-date sales of Chicago condos are:
* Down 59% in total dollar volume, from $1.6 billion to $668 million
* Down 51% in units closed, from 4,128 to 2,012
* Down 11% in median sales price, to $281,000
* Up 24% in average market time, to 158 days.

Comparing April sales to March:
* Units closed were up 15%, from 563 to 645
* Dollar volume was up 8%, from $187 million to $202 million
* Median sales price was unchanged, at $280,000
* Average market time was up 3%, from 157 days to 161 days.

For details on month-over-month and year-over-year, click here.
For previous market reports, click here.