November market statistics for North Central and North East Chicago are available on the Market Stats section of the site. Big yawn for market statistics. Looking at the charts, both average sold price and median sold price have held fairly steady year to date. The big story is transaction volume. We had 21,175 closings through November ’05 vs. 18,919 in ’06, down 11%. Dollar volume was down 8% from $8,048,496,640 to $7,386,583,552. Closings in November were down 17%, 1,543 in ’05 vs. 1,279 in ’06. All relative as we are coming off the 3rd or 4th best year in Chicago real estate history. But we knew this already. Big question moving forward is whether sales will pick up, and if not, will this drive a reduction in prices? As a note, I have revamped the process to make it easier to post monthly and dropped some charts that I felt did not add value. Look for new charts in 2007 as I have also changed the way in which I pull data. Again, check out the Market Stats section of the site to review the charts and other resources.
North Chicago: November 2006 Market Trends
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