Tag: Chicago monthly real estate market update

Chicago Real Estate Market Update: April Home Sales Plunge 21%

Chicago Real Estate Market Update: April Home Sales Plunge 21%
April is the Chicago real estate market’s first full month with the coronavirus stay at home order and its repercussions. And the picture is not pretty. And it will get worse before it gets better. First, April closings were down 21.0% from last April. However, you should note that the Illinois Association of Realtors will... Read more »

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff

Chicago Real Estate Market Update: March Contracts Fell Off A Cliff
I’ve been issuing weekly updates on the impact of the coronavirus nightmare on the Chicago real estate market prior to today but I’m now due for my monthly update so I’ll just weave the two together. March is the first month where we can start to see how these unusual circumstances are affecting the market.... Read more »

Chicago Real Estate Market Update: February Was Better Than It Looks

Chicago Real Estate Market Update: February Was Better Than It Looks
So, in a couple of weeks you’re going to hear the Illinois Association of Realtors say that the Chicago real estate market experienced a little increase in home sales activity in February compared to last year. 1.5% is my guess as to what they are going to announce. Of course, my own calculated percentage is... Read more »
Advertisement:

Chicago Real Estate Market Update: Home Sales May Be Turning Corner

Chicago Real Estate Market Update: Home Sales May Be Turning Corner
A lot of people gauge the health of the Chicago real estate market in terms of home sales which is why I always start off my monthly update with that metric. The graph below shows the monthly sales numbers going back to 1997 with all the January numbers flagged in red and a light blue... Read more »

Chicago Real Estate Market: December Sales Spike Actually Disappointing

Chicago Real Estate Market: December Sales Spike Actually Disappointing
First of all, December home sales in Chicago actually spiked 9.2% above last year and, technically, that is the biggest percentage gain in 33 months. But check out the graph below where I have all the monthly home sales going back to 1997 with all the Decembers flagged in red and a light blue moving... Read more »

Chicago Real Estate Market: November Sales Fall 8% From Last Year

Chicago Real Estate Market: November Sales Fall 8% From Last Year
Well, it looks like the Chicago real estate market had another slow month of home sales – an 8.1% decline from last year, which is the biggest decline in the last 5 months. We’ve been getting these larger declines every 4 – 6 months, punctuated by a few months of < 5% drops. In fact,... Read more »
Advertisement:

Chicago Real Estate Market Update: October Sales Only Slightly Slower

Chicago Real Estate Market Update: October Sales Only Slightly Slower
During a year in which home sales in the Chicago real estate market have been kinda slow it’s once again good news when a month like October comes in only 0.4% below last year. Compare that to an average 5.7% drop in the previous 12 months, 3 of which had double digit drops. The graph... Read more »

Chicago Real Estate Market Update: September Least Bad Of Last 11 Months

Chicago Real Estate Market Update: September Least Bad Of Last 11 Months
If you regularly read this blog you know that the Chicago real estate market has been a bit weak this year – as measured by home sales activity. In the previous 12 months the average decline from a year ago has been 7%. That’s why it’s actually good news when the decline for September came... Read more »

Chicago Real Estate Market Update: Another Lower Sales Month In August

Chicago Real Estate Market Update: Another Lower Sales Month In August
The Chicago real estate market turned in another disappointing home sales month in August with a 4.0% decline in closings from last year. If you look at the graph below you can also see that it was lower than 5 of the last 6 years, the only exception being 2014. The light blue line in... Read more »
Advertisement:

Chicago Real Estate Market Update: July Home Sales Down Slightly From Last Year

Chicago Real Estate Market Update: July Home Sales Down Slightly From Last Year
For the last 12 months the Chicago real estate market has been in a sales slump. 11 of those months came in with lower sales than the previous year and roughly once every 3 months the sales decline has been in the double digit percentages. June was one of those double digit months but I... Read more »