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SINGLE FAMILY & ATTACHED REAL ESTATE TRENDS 2009–2011 IN DOWNTOWN CHICAGO

Below is market data for downtown Chicago from the past three years. In 2011 attached units saw a slower year, with lower sales prices. However, the monthly supply of inventory (M.S.I.) has been very gradually decreasing, adding a glimmer of hope for a more balanced market in the future.

This chart briefly explains what we can learn from M.S.I.

0-5 mo M.S.I. 5-7 mo M.S.I. 7-10 mo M.S.I. 10-20 mo M.S.I. 20+ mo M.S.I.
Seller’s Market
0-3 mos is a HOT seller’s market. 3-5 mos is a good seller’s market. Properties that are priced to sell will move quickly. Buyers are looking for positives.
Balanced Market
In a balanced market a seller’s property will move if it is priced accordingly. However, unless it is priced to move market time can add up to 180+ days!
Buyer’s Market
Buyers are very picky in this kind of market. Seller’s need to work very hard to make sure the property shows well and is priced right.
Survival of the Fittest
Seller’s may need some luck in this market. Even a home that is well-maintained and priced to move may take time.
Vulture’s Market
Buyer’s are very picky in this market and negatives can become deal breakers. Properties that move are either in short-sale or are owned by sellers with a strong equity position.

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Chicago South Loop Dearborn ParkNear South Side

(Area 8033: Includes Dearborn Park, Museum Park and the South Loop)

Search for condos or houses in the Near South Side.

Chicago South Loop Dearborn Park Real Estate Market Trends

West Loop Chicago Real Estate Market Trends

Near West Side

(Area 8028: Includes Medical Center, Pilsen, and University Village)

Search for condos or houses in the Near West Side.

West Loop Chicago Real Estate Market Trends

Chicago LoopLoop

(Area 8032: Including Printer’s Row)

Search for condos in the Loop.

Chicago Loop Real Estate Market Trends May 2011

Near North SideChicago Streeterville

(Area 8008: Includes Gold Coast, Goose Island, Magnificent Mile, Old Town, and Streeterville)

Search for condos or houses in the Near North Side.

Chicago Streeterville Riverwalk Real Estate Market Trends May 2011


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M.S.I. chart derived from Shift by Gary Keller
Market data from MRED (Midwest Real Estate Data)
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