Monday, December 10, 2007

Chicago's Quarterly Housing Market Report

The latest Chicago Home BUZZ report has almost been completed (just awaiting final few weeks of the year) but the results are staggering. The overall decrease from 2006 to 2007 in the fourth quarter was over 130% decrease in total sales volume from just one year ago.

Some of the leading declines in the City of Chicago included the Bucktown/Logan Square (60647) neighborhoods where there was an almost 300% decrease in single-family (detached) home sales from $32,898,835 in total sales in 2006 down to only $8,214,800 for the fourth quarter (2007). The Hyde Park neighborhood (60619) saw single-family homes drop from $3.6M down to under $1M in sales, down 287%.

Rogers Park condominiums saw only 45 sales last quarter, an over 230% decrease from the prior years 149 units.

The suburbs saw some areas with even worse showings including single-family sales in Highland Park where only four homes sold last quarter totaling $1,753,600 in sales down over a whopping 400% from the $8,888,000 last year.

Over all total sales volume for the quarter was $1.5 billion down over 130% from the $3.5 billions last year.

For more information and a free quarterly update of your neighborhood visit our Chicago HOME BUZZ page at and see all the data and statistics.

If you'd like an Interactive Market Update of your neighborhood request a
Market Snapshot

Finally, if you'd like us to mail you a copy of the Chicago Home Buzz report quarterly just drop us a line 

Stay tuned for more....

1 comment:

Anonymous said...

Interesting post, Just a quick comment. Mathematically negative 100% of a number would be 0. So when sales fall from 100 to 50 they fell by 50% and not 100%. On the other hand if the sales went from 50 to 100, they would be said to rise by 100%. Its a bit confusing, but hope this helps.