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CHICAGO MARKET HOUSING SNAPSHOT : APRIL

CHICAGO HOUSING SNAPSHOT
CHICAGO SKYLINE


Sales

April Property sales were 2,128, 16.8% higher than the 1,822 sales last month. April 2014 sales were at a mid level compared to April of 2013 and 2012. April YTD sales of 6,702 are running -6.5% behind last year’s year-to-date sales of 7,169.

Prices
The Median Sales Price in April was $254,950, up 12.4% from $226,750 in April of 2013 and up 6.2% from $240,000 last month. The Average Sales Price in April was $327,551, up 9.3% from $299,637 in April of 2013 and up 4.0% from $314,813 last month.

 

Inventory & MSI
The Total Inventory of Properties available for sale as of April was 7,887, up 3.9% from 7,588 last month and down -13.9% from 9,165 in April of last year. April 2014 Inventory was at the lowest level compared to April of 2013 .
Market Time
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer’s market, a downward trend a move towards more of a Seller’s market. The DOM for April was 55, down -5.2% from 58 days last month and down -9.8% from 61 days in April of last year.

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