Tuesday, August 11, 2009

YTD Sales Improve 3 Consecutive Months

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos for the first seven months of 2009 are:
* Down 49% in total dollar volume, to $1.6 billion
* Down 39% in units closed, to 5,000
* Down 12% in median sales price, to $283,000
* Up 16% in average market time, to 152 days.

This shows an improving year-to-date market in both dollars and units for three consecutive months:

End of April: Dollars down 59%, units down 51%
End of May: Dollars down 57%, units down 48%
End of June: Dollars down 53%, units down 44%
End of July: Dollars down 49%, units down 39%.

Comparing July sales to June:
* Units closed were flat, at 1,050 in both June and July
* Dollar volume was up 1%, from $330 million to $333 million
* Median sales price was up 1%, from $283,000 to $285,500
* Average market time was down 13%, from 161 days to 140 days.

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

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