Monday, August 9, 2010

Dollar volume up 30% YTD, down 34% from June

In the first seven months of this year, condo dollar volume has increased 30% compared to 2009. But volume in July was down 34% compared to June.

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, year-to-date sales of Chicago condos through July 2010 are:
* Up 30% in total dollar volume, to $2.1 billion
* Up 30% in units closed, to 6,524
* Down 7% in median sales price, to $262,500
* Down 3% in average market time, to 148 days.

Comparing July sales to June:
* Units closed were down 39%, from 1,365 to 833 closings
* Dollar volume was down 34%, from $434 million to $286 million
* Median sales price was down 6%, from $270,000 to $255,000
* Average market time was flat, at 144 days

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