Trends
I discontinued updating these Chicago real estate market statistics. Should you require market trends on a specific neighborhood or property please don’t hesitate to contact me. The page remains live as a number of blog posts are linked to it.
THE CHARTS * (Click on a chart to make interactive.) The charts below cover Chicago’s North East and North Central regions, which is essentially Cicero Avenue to the Lake, Rogers Park through the Loop. The specific Community Areas covered include Rogers Park, Edgewater, Uptown, Lake View, Lincoln Park, Near North Side, Loop, Near West Side, East Garfield Park, West Garfield Park, Humboldt Park, West Town, Logan Square, Avondale, Hermosa, Irving Park, Albany Park, North Park, West Ridge, Lincoln Square, and North Center.
Available to Under Contract Ratio: The chart below shows the relationship between available vs. under contract listings over time. The chart is a good way to get a feel for the overall health of the marketplace. If the trend breaks higher, then the market could be heading for trouble as the available listings would be overwhelming listings under contract. If it breaks to the downside, it means the under contract listings are outpacing the available listings, a healthy pick-up in the market place.
Sold vs. New Inventory: The chart below illustrates sold vs. new inventory.
Attached Sales Price vs. Number of Sales: The chart below illustrates average and median sales price vs. number of sales for attached property types (condo, townhouse).
Detached Sales Price vs. Number of Sales: The chart below illustrates average and median sales price vs. number of sales for single family homes.
Pending Home Sales Index (National & Midwest Regional Chart): NAR’s Pending Home Sales Index (PHSI) is released during the first week of each month. It is designed to be a leading indicator of housing activity. The index measures housing contract activity. It is based on signed real estate contracts for existing single-family homes, condos and co-ops. A signed contract is not counted as a sale until the transaction closes. Modeling for the PHSI looks at the monthly relationship between existing-home sale contracts and transaction closings over the last four years.
Other Fun Stats: The tables below display some common market statistics at a glance. 
* Absorbtion rate based on rolling average of prior 6, 9, and 12 months closings.
OTHER SITES Below are several links to other real estate sites that provide some interesting statistics.
- HousingTracker.net – Provides available listings statistics for Chicago.
- Chicago Tribune – Presents year over year median housing price data for Chicago. Links directly to the documents appear below.
- DataQuick – Site with some stats by county and zip code.
- Chicago Association of Realtors – City association site with some stats by community area.
- Illinois Association of Realtors – State association site with market stats and news.
- National Association of Realtors – National association site with some stats and market info at the macro level.
* THE DATA
- All chart data is pulled from the local MLSNI production system. Not the best method, but all I have.
- These stats cover what I will term Chicago’s North East and North Central regions, which is essentially Cicero Avenue to the Lake, Rogers Park through the Loop. The specific Community Areas covered include Rogers Park, Edgewater, Uptown, Lake View, Lincoln Park, Near North Side, Loop, Near West Side, East Garfield Park, West Garfield Park, Humboldt Park, West Town, Logan Square, Avondale, Hermosa, Irving Park, Albany Park, North Park, West Ridge, Lincoln Square, and North Center.
- The Property Types selected include Attached Single (condo, townhouse) and Detached Single (single family).
- Status definitions are as follows:
- Available Inventory – All listings that are available for purchase at a point in time. Listings include those in Active, Back On Market, New, Price Change, Re-Activated status.
- Under Contract – All listings that are under contract at a point in time. Listings include those in Contingent and Pending status.
- Sold – All listings that have closed and are in Closed status within a defined time period.
- New – All listings that have newly arrived to market (in any status) within a defined time period. A little tricky as something can arrive to market as New at the beginning of the month and be Closed or Cancelled by the end of the month. Still counted as a new listing within the month.
Feel free to contact me should you need clarification on any of the above.
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