YTD Sales Improve 7th Consecutive Month

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos for the first eleven months of 2009 are:
* Down 36% in total dollar volume, to $2.8 billion
* Down 23% in units closed, to 9,153
* Down 13% in median sales price, to $270,000
* Up 13% in average market time, to 148 days.

This shows an improving year-to-date market, in both dollars and units, for seven 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%
End of November: Dollars down 36%, units down 23%.

Comparing November sales to October:
* Units closed were down 7%, from 1,037 to 970 closings
* Dollar volume was down 5%, from $306 million to $291 million
* Median sales price was down 1%, from $255,000 to $252,500
* Average market time was up 13%, from 130 days to 147 days.

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