January Sales Volume Up 32% Over 2009

Compared to January 2009, the new year and the new decade are off to a promising start.

According to figures on Chicago condos closed on the MLS in January, compiled by Midwest Real Estate Data (MRED):
* Total sales volume was up 32%, from $144 million in January 2009 to $189 million in January 2010
* Units closed during the month were up 39%, from 395 to 549
* Average market time was down 8%, from 152 to 140 days
* Median sales price was down 10%, from $299,000 to $270,000
* New listings were up 28%, from 2,202 to 2,822
* Supply was up 16%, from 11.1 to 12.9 months.

For all of 2009, dollar volume was down 32% from 2008, units closed were down 19% and median sales price was down 13%.

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