YTD condo closings up 51% over 2009

In the first three months of this year, powered by foreclosures, short sales and government subsidies, condo sales have dramatically increased compared to the first quarter of 2009.

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos through March 2010 are:
* Up 41% in total dollar volume, to $650 million
* Up 51% in units closed, to 2,039
* Down 10% in median sales price, to $256,000
* Down 3% in average market time, to 151 days.

Comparing March sales to February:
* Units closed were up 70%, from 543 to 923 closings
* Dollar volume was up 76%, from $165 million to $290 million
* Median sales price was up 8%, from $239,000 to $259,000
* Average market time was up 10%, from 146 days to 161 days

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