YTD Sales Improve 5th Consecutive Month

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos for the first nine months of 2009 are:
* Down 44% in total dollar volume, to $2.2 billion
* Down 33% in units closed, to 7,073
* Down 13% in median sales price, to $276,000
* Up 16% in average market time, to 151 days.

This shows an improving year-to-date market, in both dollars and units, for five 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%
End of August: Dollars down 47%, units down 36%
End of September: Dollars down 44%, units down 33% .

Comparing September sales to August:
* Units closed were down 6%, from 1,030 to 973 closings
* Dollar volume was down 10%, from $317 million to $285 million
* Median sales price was up 1%, from $263,900 to $266,500
* Average market time was down 1%, from 149 days to 148 days.

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