Dollar volume down 28% YTD, up 55% from February

In the first three months of 2011, city condo dollar volume dropped 28% compared to the same period of 2010. But, volume in March was up 55% compared to February.
According to figures generated for ChicagoCondosOnline.com by MRED, the regional MLS, YTD sales of Chicago condos through March 2011 are:

* Down 28% in total dollar volume, to $469 million
* Down 14% in units closed, to 1,756
* Down 26% in median sales price, to $189,000
* Up 23% in average market time, to 185 days.

Comparing March sales to February:
* Units closed were up 38%, from 508 to 703 closings
* Dollar volume was up 55%, from $127 million to $196 million
* Median sales price was up 8%, from $182,500 to $197,700
* Average market time was down 8%, from 197 to 182 days.

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