Tuesday, January 18, 2011

Dollar volume for city condos flat for '10 vs. '09

In 2010, city condo dollar volume has remained flat compared to 2009. But volume in December was up 69% compared to November.

According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, sales of Chicago condos through December 2010 compared to 2009 are:
* Flat in total dollar volume, at $3.1 billion
* Down 2% in units closed, to 9,887
* Down 6% in median sales price, to $255,000
* Up 3% in average market time, to 151 days.

Comparing December sales to November:
* Units closed were up 36%, from 535 to 725 closings
* Dollar volume was up 69%, from $159 million to $268 million
* Median sales price was down 2%, from $218,000 to $215,000
* Average market time was down 2%, from 166 to 163 days

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