Chicago Condo Inventory Still Unseasonably High

We recently updated our market statistics for several Chicago neighborhoods (looking specifically at 2 - 3 bedroom condos) and for the 6th month in a row condo inventory remains fairly flat with an 18 - 19 month supply.

Chicago home inventory

As you can see from the chart above that is still high for this time of the year but as we move into the slowest season for real estate at least the seasonal pattern is catching up with the data - i.e. 18 months of inventory is not as bad for October (thought it's still high) as it is for May. Clearly the inventory situation deteriorated substantially right after that dumb tax credit expired. Big help that was.

As you might expect the inventory picture is dramatically different for the various neighborhoods. Here are a few highlights:

Note: we calculate our inventory numbers differently than the rest of the industry by basing it upon contract volume, not closings, and by not removing cancelled and expired listings from the data. We believe this provides a more accurate and current view of the inventory situation.

Leave a comment

  • ChicagoNow is full of win

    Welcome to ChicagoNow.

    Meet our bloggers,
    post comments, or
    pitch your blog idea.

  • Advertisement:
  • Getting Real On Facebook

  • Subscribe To Getting Real

    Subscribe to RSS Feed RSS Feed

    Enter your email address:

    Delivered by FeedBurner

    Google
  • Meet The Blogger

    Gary Lucido

    After 20 years in the corporate world and running an Internet company, Gary started Lucid Realty with his partner, Sari. The company provides full service, while discounting commissions for sellers and giving buyers rebates.

  • Tags

  • Monthly Archives

  • Latest on ChicagoNow

  • Advertisement:
  • Fresh Chicago News