YTD Sales Improve 6th Consecutive Month

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos for the first ten months of 2009 are:
* Down 40% in total dollar volume, to $2.5 billion
* Down 28% in units closed, to 8,133
* Down 13% in median sales price, to $275,000
* Up 14% in average market time, to 149 days.

This shows an improving year-to-date market, in both dollars and units, for six 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%
End of October: Dollars down 40%, units down 28%.

Comparing October sales to September:
* Units closed were up 7%, from 973 to 1,037 closings
* Dollar volume was up 8%, from $285 million to $306 million
* Median sales price was down 4%, from $266,500 to $255,000
* Average market time was down 12%, from 148 days to 130 days.

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