Total condos and townhomes units sold in Chicago's Lakeview neighborhood were down 37% with 245 units sold in the fourth quarter, 2008 compared with 391 units sold in the fourth quarter, 2007. The median sales prices were down 9% to $315.000 from $347,000 in 2007 4Q and the average condo and townhome prices were down 36% in 2008 to $241,592 compared with $376,131 in 2007. Average market time was up 9% to 104 days.
Listen to the local professionals and look at the real numbers when trying to make sense of today's real estate market and your local micro-real estate economy. Even these numbers cannot be read on face value. Drill downs are required!
For more information and a Chicago Home Buzz market report visitwww.ChicagoHomeBuzz.com where this data will be available soon.
Jim
1 comment:
For some months, your real estate problems were just curiosity for us. But after December's 45% sales drop on the Toronto real estate market everybody here is scared. Luckily, prices are still a calm - average price drop was small and median price remained almost unchanged. We all hope this is just a huge correction of 2006-2007 boom.
Take care and best wishes.
Elli
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